Getting an SBA Loan for Industrial Machinery Manufacturing

With these commercial loans for industrial machinery manufacturing, the SBA guarantees the lender that the loan will be repaid. This industrial machinery manufacturing loan for $115,000 was given to an Arkansas entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Conway, Arkansas was able to borrow $115,000 from Metropolitan National Bank. The SBA made the loan possible by guaranteeing $97,750 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY MANUFACTURING
CONWAY, AR 72032

SBA Loan Lender

METROPOLITAN NATIONAL BANK
425 W CAPITOL AVE
LITTLE ROCK, AR 72201

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333298 - Industrial Machinery Manufacturing

Loan Approval Date

5/26/2006

Loan Approval Gross Amount

$115,000

Loan Approval from the SBA

Of the total $115,000 loan amount, the SBA guaranteed $97,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 17 employees. The loan application indicated that the loan would help retain 17 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 Metropolitan National Bank 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:

Equity Financing

SBA Approved Banks in Little Rock, Arkansas

Getting an SBA Loan in Arkansas