Cutting Tool and Machine Tool Accessory Manufacturing SBA Loans

Looking for SBA loans for cutting tool and machine tool accessory manufacturing? An SBA loan may be just what you've been looking for. This $350,000 cutting tool and machine tool accessory manufacturing loan was issued by a Massachusetts bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in East Windsor Hill, Connecticut was able to borrow $350,000 from Ups Capital Business Credit. The SBA made the loan possible by guaranteeing $262,500 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOL ACCESSORIES
EAST WINDSOR HILL, CT 06088

SBA Loan Lender

UPS CAPITAL BUSINESS CREDIT
ONE MONARCH PL
SPRINGFIELD, MA 01144

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.

SIC Code

3545 - Machine Tool Accessories

NAICS Code

333515 - Cutting Tool and Machine Tool Accessory Manufacturing

Loan Approval Date

7/18/2000

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 11 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 11 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Ups Capital Business Credit had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Ups Capital Business Credit made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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