Metalworking Machinery Manufacturing Small Business Loans

Looking for small business loans for metalworking machinery manufacturing? Talk to a banker who works with the SBA. This $118,000 metalworking machinery manufacturing loan was issued by an Utah bank.

Getting a small business loan in Clearfield, Utah was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from America West Bank, operating out of Layton, Utah. Here are the details on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: METALWORKING MACHINERY MANUFACTURING
CLEARFIELD, UT 84015

SBA Loan Lender

AMERICA WEST BANK
476 W HERITAGE PARK BLVD, STE
LAYTON, UT 84041

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333518 - Metalworking Machinery Manufacturing

Loan Approval Date

3/25/2003

Loan Approval Gross Amount

$118,000

Loan Approval from the SBA

Of the total $118,000 loan amount, the SBA guaranteed $100,300.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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.

Related Links:

Obtaining Funding - Friends and Family

SBA 7A Banks for Layton, Utah Loans

SBA Lenders in Utah