Commercial and Industrial Machinery and Equipment Small Business Loans

Looking for small business loans for commercial and industrial machinery and equipment? An SBA loan may be just what you've been looking for. This $45,000 commercial and industrial machinery and equipment loan was issued by a Virginia bank.

Getting a small business loan in Castlewood, Virginia was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First B & T Financial Services, operating out of Bristol, Virginia. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: REFRIGERATION AND AIR-CONDITIONING SERVICE
CASTLEWOOD, VA 24224

SBA Loan Lender

FIRST B & T FINANCIAL SERVICES
38 E VALLEY DR
BRISTOL, VA 24201

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

7623 - Refrigeration and Air-Conditioning Service

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

7/30/2002

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

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 3 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First B & T Financial Services that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

Related Links:

Debt Financing

SBA Banks in Bristol, Virginia

Virginia SBA 7A Lenders