Air and Gas Compressor Manufacturing Bank Loans

With these bank loans for air and gas compressor manufacturing, the SBA guarantees the lender that the loan will be repaid. This air and gas compressor manufacturing loan for $660,000 was given to a Wyoming entrepreneur in 2001.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with First Interstate Bank, out of Casper, Wyoming. The loan was granted and they received $660,000 to help grow their Casper, Wyoming business.

SBA Loan Borrower

COMPANY TYPE: AIR AND GAS COMPRESSORS
CASPER, WY 82604

SBA Loan Lender

FIRST INTERSTATE BANK
104 S WOLCOTT ST
CASPER, WY 82601

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3563 - Air and Gas Compressors

NAICS Code

333912 - Air and Gas Compressor Manufacturing

Loan Approval Date

6/26/2001

Loan Approval Gross Amount

$660,000

Loan Approval from the SBA

Of the total $660,000 loan amount, the SBA guaranteed $495,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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