Financing for Machine Shops
Looking for loans for machine shops? Try the SBA. This $99,000 machine shops loan was issued by an Ohio bank.
This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with U.S. Bank National Association, out of Cincinnati, Ohio. The loan was granted and they received $99,000 to help grow their Cincinnati, Ohio business.
SBA Loan Borrower
COMPANY TYPE: MACHINE SHOPS
CINCINNATI, OH 45215
SBA Loan Lender
U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202
The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
332710 - Machine Shops
Loan Approval Date
1/22/2007
Loan Approval Gross Amount
$99,000
Loan Approval from the SBA
Of the total $99,000 loan amount, the SBA guaranteed $49,500.
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 25 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 26 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like U.S. Bank National Association 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:
Realistic Debt Financing Options
SBA 7A Banks in Cincinnati, Ohio
Getting a Business Loan in Ohio