Commercial Loans for Conveyor and Conveying Equipment Manufacturing

Looking for commercial loans for conveyor and conveying equipment manufacturing? Try the SBA. This $400,000 conveyor and conveying equipment manufacturing loan was issued by a Missouri bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lee's Summit, Missouri was able to borrow $400,000 from Umb Bank. The SBA made the loan possible by guaranteeing $296,000 of this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: CONVEYORS AND CONVEYING EQUIPMENT
LEE'S SUMMIT, MO 64064

SBA Loan Lender

UMB BANK
1010 GRAND BLVD
KANSAS CITY, MO 64106

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3535 - Conveyors and Conveying Equipment

NAICS Code

333922 - Conveyor and Conveying Equipment Manufacturing

Loan Approval Date

3/28/2003

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $296,000.

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 130 employees. This SBA loan request did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

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SBA Participating Banks in Kansas City, Missouri

Getting a Business Loan in Missouri