Commercial Loans for Cutting Tool and Machine Tool Accessory Manufacturing

Looking for commercial loans for cutting tool and machine tool accessory manufacturing? An SBA loan may be just what you've been looking for. This $425,000 cutting tool and machine tool accessory manufacturing loan was issued by a North Carolina bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Graham, North Carolina was able to borrow $425,000 from Communityone Bank. The SBA made the loan possible by guaranteeing $318,750 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: CUTTING TOOL AND MACHINE TOOL ACCESSORY MANUFACTURING
GRAHAM, NC 27253

SBA Loan Lender

COMMUNITYONE BANK
1128 S MAIN ST
GRAHAM, NC 27253

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333515 - Cutting Tool and Machine Tool Accessory Manufacturing

Loan Approval Date

4/25/2001

Loan Approval Gross Amount

$425,000

Loan Approval from the SBA

Of the total $425,000 loan amount, the SBA guaranteed $318,750.

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 15 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Communityone Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Small Business Loan

Small Business Banks in Graham, North Carolina

North Carolina SBA 7A Banks