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December 22, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Windsor, Business Loans > Ups Capital Business Credit Windsor Business Loans > Industrial Process Furnaces And Ovens Loan | ||||
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How to Get SBA Loans in Haverhill, Massachusetts
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Raising Money for Industrial Process Furnace and Oven ManufacturingLooking for business loans for industrial process furnace and oven manufacturing? An SBA loan may be just what you've been looking for. This $480,000 industrial process furnace and oven manufacturing loan was issued by a Connecticut bank. Getting a small business loan in Haverhill, Massachusetts was important for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Ups Capital Business Credit, operating out of Windsor, Connecticut. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL PROCESS FURNACES AND OVENS SBA Loan Lender UPS CAPITAL BUSINESS CREDIT As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3567 - Industrial Process Furnaces and Ovens NAICS Code 333994 - Industrial Process Furnace and Oven Manufacturing Loan Approval Date 3/27/2000 Loan Approval Gross Amount $480,000 Loan Approval from the SBA Of the total $480,000 loan amount, the SBA guaranteed $360,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 45 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 45 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Bank Loans in Windsor, Connecticut
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