Business Loans for Electrical Equipment and Component Manufacturing

Looking for business loans for electrical equipment and component manufacturing? Talk to a banker who works with the SBA. This $1,175,000 electrical equipment and component manufacturing loan was issued by a Connecticut bank.

This small business knew how to go about getting a business bank loan. Based in Gaithersburg, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Ups Capital Business Credit, based in Windsor, Connecticut.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL INDUSTRIAL APPARATUS
GAITHERSBURG, MD 20850

SBA Loan Lender

UPS CAPITAL BUSINESS CREDIT
425 DAY HILL RD
WINDSOR, CT 06095

This loan was underwritten by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3629 - Electrical Industrial Apparatus

NAICS Code

335999 - Electrical Equipment and Component Manufacturing

Loan Approval Date

6/21/2002

Loan Approval Gross Amount

$1,175,000

Loan Approval from the SBA

Of the total $1,175,000 loan amount, the SBA guaranteed $881,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

The Friends and Family Network

Best Banks for Small Business in Windsor, Connecticut

Connecticut SBA 7A Lenders