How to Get a Loan for Air Purification Equipment Manufacturing

Looking for business loans for air purification equipment manufacturing? An SBA loan may be just what you've been looking for. This $900,000 air purification equipment manufacturing loan was issued by a Maryland bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Elkton, Maryland was able to borrow $900,000 from Pnc Bank, National Association. The SBA made the loan possible by guaranteeing $675,000 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE EXHAUST SYSTEM REPAIR SHOPS
ELKTON, MD 21921

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
123 NORTH ST
ELKTON, MD 21921

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7533 - Automotive Exhaust System Repair Shops

NAICS Code

333411 - Air Purification Equipment Manufacturing

Loan Approval Date

9/12/2002

Loan Approval Gross Amount

$900,000

Loan Approval from the SBA

Of the total $900,000 loan amount, the SBA guaranteed $675,000.

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 31 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Pnc Bank, National Association had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Pnc Bank, National Association 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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