Loans for Commercial and Service Industry Machinery Manufacturing

Looking for loans for commercial and service industry machinery manufacturing? The SBA may be the answer. This $574,000 commercial and service industry machinery manufacturing loan was issued by a Texas bank.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Omnibank, National Association, out of Houston, Texas. The loan was granted and they received $574,000 to help grow their Houston, Texas business.

SBA Loan Borrower

COMPANY TYPE: SERVICE INDUSTRY MACHINERY
HOUSTON, TX 77042

SBA Loan Lender

OMNIBANK, NATIONAL ASSOCIATION
397 N SAM HOUSTON PKWY EAST
HOUSTON, TX 77060

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3589 - Service Industry Machinery

NAICS Code

333319 - Commercial and Service Industry Machinery Manufacturing

Loan Approval Date

2/12/2004

Loan Approval Gross Amount

$574,000

Loan Approval from the SBA

Of the total $574,000 loan amount, the SBA guaranteed $430,500.

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 12 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Omnibank, National Association had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Omnibank, National Association 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.

Related Links:

How Equity Dilution Works

Where to Get an SBA Loan in Houston, Texas

SBA Participating Banks in Texas