How to Get a Loan for Machine Shops

With these business loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $600,000 was given to a New Hampshire entrepreneur in 2001.

Getting a small business loan in Hollis, New Hampshire was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Bank Of New England, operating out of Salem, New Hampshire. Here are the details on this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT
HOLLIS, NH 03049

SBA Loan Lender

BANK OF NEW ENGLAND
31 PELHAM RD
SALEM, NH 03079

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

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

2/26/2001

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

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 30 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Obtaining Funding - Getting Venture Capital

SBA 7A Banks in Salem, New Hampshire

New Hampshire SBA 7A Lenders