How to Get a Loan for Machine Shops

Looking for SBA loans for machine shops? Talk to a banker who works with the SBA. This $60,000 machine shops loan was issued by an Indiana bank.

Getting a small business loan in Indianapolis, Indiana was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Fifth Third Bank, operating out of Indianapolis, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
INDIANAPOLIS, IN 46268

SBA Loan Lender

FIFTH THIRD BANK
251 N ILLINOIS ST
INDIANAPOLIS, IN 46204

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

3/9/2004

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Fifth Third Bank and they will explain how you can get an SBA loan for your company.

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.

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