SBA Loans for Construction, Mining, and Forestry Machinery Equipment Rental and Leasing

Looking for SBA loans for construction, mining, and forestry machinery equipment rental and leasing? An SBA loan may be just what you've been looking for. This $66,000 construction, mining, and forestry machinery equipment rental and leasing loan was issued by a Massachusetts bank.

This small business knew how to go about getting a business bank loan. Based in Charlton, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Commerce Bank & Trust Company, based in Worcester, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: EQUIPMENT RENTAL AND LEASING
CHARLTON, MA 01507

SBA Loan Lender

COMMERCE BANK & TRUST COMPANY
386 MAIN ST
WORCESTER, MA 01608

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

7359 - Equipment Rental and Leasing

NAICS Code

532412 - Construction, Mining, and Forestry Machinery Equipment Rental and Leasing

Loan Approval Date

9/10/2001

Loan Approval Gross Amount

$66,000

Loan Approval from the SBA

Of the total $66,000 loan amount, the SBA guaranteed $56,100.

More Information on This SBA Loan

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

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $66,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

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SBA Banks in Worcester, Massachusetts

SBA Lenders in Massachusetts