How to Get a Loan for Commercial and Service Industry Machinery Manufacturing

Looking for SBA loans for commercial and service industry machinery manufacturing? Try the SBA. This $593,400 commercial and service industry machinery manufacturing loan was issued by a South Dakota bank.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Wells Fargo Bank, out of Sioux Falls, South Dakota. The loan was granted and they received $593,400 to help grow their Huntington Beach, California business.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND SERVICE INDUSTRY MACHINERY MANUFACTURING
HUNTINGTON BEACH, CA 92649

SBA Loan Lender

WELLS FARGO BANK
101 N PHILIPS AVE
SIOUX FALLS, SD 57104

At the time this loan was granted, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program is designed to offer quick service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333319 - Commercial and Service Industry Machinery Manufacturing

Loan Approval Date

9/22/2003

Loan Approval Gross Amount

$593,400

Loan Approval from the SBA

Of the total $593,400 loan amount, the SBA guaranteed $445,050.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 21 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

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

Business Line of Credit

Find an SBA Lender in Sioux Falls, South Dakota

Where to Get an SBA Loan South Dakota