Financing for Machine Shops

Looking for loans for machine shops? Talk to a banker who works with the SBA. This $269,700 machine shops loan was issued by a Kentucky bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Glasgow, Kentucky was able to borrow $269,700 from Edmonton State Bank. The SBA made the loan possible by guaranteeing $202,275 of this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT
GLASGOW, KY 42141

SBA Loan Lender

EDMONTON STATE BANK
213 N MAIN ST
TOMPKINSVILLE, KY 42167

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3599 - Industrial and Commercial Machinery and Equipment

NAICS Code

332710 - Machine Shops

Loan Approval Date

10/23/2003

Loan Approval Gross Amount

$269,700

Loan Approval from the SBA

Of the total $269,700 loan amount, the SBA guaranteed $202,275.

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 10 employees. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Edmonton State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Edmonton State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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