Motor and Generator Manufacturing Small Business Loans

With these small business loans for motor and generator manufacturing, the SBA guarantees the lender that the loan will be repaid. This motor and generator manufacturing loan for $600,000 was given to an Indiana entrepreneur in 2004.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Salin Bank & Trust Company, out of Kokomo, Indiana. The loan was granted and they received $600,000 to help grow their Kokomo, Indiana business.

SBA Loan Borrower

COMPANY TYPE: MOTORS AND GENERATORS
KOKOMO, IN 46901

SBA Loan Lender

SALIN BANK & TRUST COMPANY
112 S WASHINGTON ST
KOKOMO, IN 46901

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

3621 - Motors and Generators

NAICS Code

335312 - Motor and Generator Manufacturing

Loan Approval Date

8/27/2004

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 a new business. This loan was not for a franchise. At the time of the loan, the company had 13 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to add 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.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

Related Links:

Raising Venture Capital

Where to Get an SBA Loan in Kokomo, Indiana

Indiana SBA 7A Lenders