Getting an SBA Loan for Cutting Tool and Machine Tool Accessory Manufacturing

With these commercial loans for cutting tool and machine tool accessory manufacturing, the SBA guarantees the lender that the loan will be repaid. This cutting tool and machine tool accessory manufacturing loan for $840,000 was given to a Washington entrepreneur in 2003.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with United Commercial Bank, out of Seattle, Washington. The loan was granted and they received $840,000 to help grow their Everett, Washington business.

SBA Loan Borrower

COMPANY TYPE: CUTTING TOOL AND MACHINE TOOL ACCESSORY MANUFACTURING
EVERETT, WA 98204

SBA Loan Lender

UNITED COMMERCIAL BANK
705 5TH AVE SOUTH, STE 100
SEATTLE, WA 98104

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333515 - Cutting Tool and Machine Tool Accessory Manufacturing

Loan Approval Date

10/7/2003

Loan Approval Gross Amount

$840,000

Loan Approval from the SBA

Of the total $840,000 loan amount, the SBA guaranteed $630,000.

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 5 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This SBA loan was for $840,000. How would you spend $840,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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