Machine Tool Manufacturing Loans

Looking for loans for machine tool manufacturing? Talk to a banker who works with the SBA. This $90,000 machine tool manufacturing loan was issued by a Pennsylvania bank.

This small firm knew how to go about getting a business bank loan. Based in Levittown, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Bank Of America, based in Blue Bell, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOL MANUFACTURING
LEVITTOWN, PA 19057

SBA Loan Lender

BANK OF AMERICA
4 SENTRY PKWY, STE 200
BLUE BELL, PA 19422

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

333513 - Machine Tool Manufacturing

Loan Approval Date

10/26/2001

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $40,500.

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 30 employees. The SBA loan documents indicated that the loan would help retain 30 existing jobs.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to borrow money from friends and family, 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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