Financing for Motor and Generator Manufacturing

With these commercial loans for motor and generator manufacturing, the SBA guarantees the lender that the loan will be repaid. This motor and generator manufacturing loan for $100,000 was given to a Delaware entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hockessin, Delaware was able to borrow $100,000 from Commerce Bank. The SBA made the loan possible by guaranteeing $85,000 of this Delaware small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR AND GENERATOR MANUFACTURING
HOCKESSIN, DE 19707

SBA Loan Lender

COMMERCE BANK
2502 MARSH RD
WILMINGTON, DE 19810

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.

NAICS Code

335312 - Motor and Generator Manufacturing

Loan Approval Date

1/5/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.

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.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Financing Your Business

SBA Participating Banks in Wilmington, Delaware

SBA Lenders in Delaware