Business Loans for Rolled Steel Shape Manufacturing

Looking for business loans for rolled steel shape manufacturing? Talk to a banker who works with the SBA. This $135,000 rolled steel shape manufacturing loan was issued by an Illinois bank.

This business knew how to go about getting a business bank loan. Based in Carthage, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Marine Bank & Trust, based in Carthage, Illinois.

SBA Loan Borrower

COMPANY TYPE: PRIMARY METAL PRODUCTS
CARTHAGE, IL 62321

SBA Loan Lender

MARINE BANK & TRUST
410 BUCHANAN ST
CARTHAGE, IL 62321

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3399 - Primary Metal Products

NAICS Code

331221 - Rolled Steel Shape Manufacturing

Loan Approval Date

2/20/2003

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $114,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Marine Bank & Trust and they will explain how you can get an SBA loan for your company.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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