Small Business Loans for Machine Shops

Looking for small business loans for machine shops? The SBA may be the answer. This $382,500 machine shops loan was issued by a California bank.

Getting a small business loan in Enumclaw, Washington was important for this growing firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Wachovia Sba Lending, Inc., operating out of Roseville, California. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
ENUMCLAW, WA 98022

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

5/30/2001

Loan Approval Gross Amount

$382,500

Loan Approval from the SBA

Of the total $382,500 loan amount, the SBA guaranteed $286,875.

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 9 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 9 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wachovia Sba Lending, Inc. are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Business Incubators

SBA Banks in Roseville, California

Getting an SBA Loan in California