Cutting Tool and Machine Tool Accessory Manufacturing Commercial Loans

Looking for commercial loans for cutting tool and machine tool accessory manufacturing? Talk to a banker who works with the SBA. This $1,155,000 cutting tool and machine tool accessory manufacturing loan was issued by a Connecticut bank.

This small business knew how to go about getting a business bank loan. Based in Kensington, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Business Lenders, LLC, based in Hartford, Connecticut.

SBA Loan Borrower

COMPANY TYPE: CUTTING TOOL AND MACHINE TOOL ACCESSORY MANUFACTURING
KENSINGTON, CT 06424

SBA Loan Lender

BUSINESS LENDERS, LLC
50 STATE HOUSE SQUARE 5TH FL
HARTFORD, CT 06103

At the time this loan was granted, this bank participated in the SBA's Certified Lenders Program (CLP). This program was created to give fast 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

333515 - Cutting Tool and Machine Tool Accessory Manufacturing

Loan Approval Date

4/5/2005

Loan Approval Gross Amount

$1,155,000

Loan Approval from the SBA

Of the total $1,155,000 loan amount, the SBA guaranteed $866,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 19 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Business Lenders, LLC are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

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