Financing for Mechanical Power Transmission Equipment Manufacturing

With these commercial loans for mechanical power transmission equipment manufacturing, the SBA guarantees the lender that the loan will be repaid. This mechanical power transmission equipment manufacturing loan for $15,000 was given to a Maryland entrepreneur in 2006.

This business knew how to go about getting a business bank loan. Based in Fort Washington, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Innovative Bank, based in Oakland, California.

SBA Loan Borrower

COMPANY TYPE: MECHANICAL POWER TRANSMISSION EQUIPMENT MANUFACTURING
FORT WASHINGTON, MD 20744

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333613 - Mechanical Power Transmission Equipment Manufacturing

Loan Approval Date

11/28/2006

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $12,750.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you have been wondering how do i get money to start a business in Fort Washington MD, you ought to talk with a local Fort Washington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fort Washington businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $15,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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