Commercial Loans for Nonferrous Metal Rolling, Drawing, and Extruding

With these commercial loans for nonferrous metal rolling, drawing, and extruding, the SBA guarantees the lender that the loan will be repaid. This nonferrous metal rolling, drawing, and extruding loan for $250,000 was given to a Florida entrepreneur in 2004.

This small business knew how to go about getting a business bank loan. Based in Fort Myers, Florida, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Bank - Western Massachusetts, based in Springfield, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: NONFERROUS METAL ROLLING, DRAWING, AND EXTRUDING
FORT MYERS, FL 33907

SBA Loan Lender

BANK - WESTERN MASSACHUSETTS
1391 MAIN ST, 3RD FL
SPRINGFIELD, MA 01103

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

331491 - Nonferrous Metal Rolling, Drawing, and Extruding

Loan Approval Date

2/2/2004

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 22 employees. The SBA loan application for the borrower indicated that the loan would help retain 22 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Role of Business Plan When Raising Money

Find an SBA Lender in Springfield, Massachusetts

Massachusetts SBA Banks