Borrowing Money for Engine Equipment Manufacturing

Looking for loans for engine equipment manufacturing? The SBA may be the answer. This $250,000 engine equipment manufacturing loan was issued by a Florida bank.

Getting a small business loan in Ft. Lauderdale, Florida was important for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Metro Bank Of Dade County, operating out of Miami, Florida. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL MACHINERY, EQUIPMENT, AND SUPPLIES
FT. LAUDERDALE, FL 33309

SBA Loan Lender

METRO BANK OF DADE COUNTY
9350 S DIXIE HWY
MIAMI, FL 33156

This lender issued this SBA small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3699 - Electrical Machinery, Equipment, and Supplies

NAICS Code

333618 - Engine Equipment Manufacturing

Loan Approval Date

11/6/2001

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 9 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $250,000 loan. Remember, things become real when you believe you can achieve them!

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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