How to Get a Loan for Motor and Generator Manufacturing

Looking for commercial loans for motor and generator manufacturing? An SBA loan may be just what you've been looking for. This $425,000 motor and generator manufacturing loan was issued by a Texas bank.

Getting a small business loan in Ennis, Texas was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Commercial State Bank, operating out of Palmer, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR AND GENERATOR MANUFACTURING
ENNIS, TX 75119

SBA Loan Lender

COMMERCIAL STATE BANK
1045 N I-45
PALMER, TX 75152

This loan for a small business 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

335312 - Motor and Generator Manufacturing

Loan Approval Date

11/10/2005

Loan Approval Gross Amount

$425,000

Loan Approval from the SBA

Of the total $425,000 loan amount, the SBA guaranteed $318,750.

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 12 employees. This SBA loan request did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Commercial State 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.

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