Raising Money for Machine Tool Manufacturing

Looking for business loans for machine tool manufacturing? An SBA loan may be just what you've been looking for. This $45,000 machine tool manufacturing loan was issued by a Massachusetts bank.

This small business knew how to go about getting a business bank loan. Based in Lenox (census Name For Lenox C, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Greylock Fcu, based in Pittsfield, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOL MANUFACTURING
LENOX (CENSUS NAME FOR LENOX C, MA 01242

SBA Loan Lender

GREYLOCK FCU
150 WEST ST
PITTSFIELD, MA 01201

This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333512 - Machine Tool Manufacturing

Loan Approval Date

3/17/2006

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $33,750.

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 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 3 existing jobs.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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