How to Get a Loan for Commercial and Industrial Machinery and Equipment

Looking for business loans for commercial and industrial machinery and equipment? An SBA loan may be just what you've been looking for. This $60,000 commercial and industrial machinery and equipment loan was issued by a Maine bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Limerick, Maine was able to borrow $60,000 from Biddeford Savings Bank. The SBA made the loan possible by guaranteeing $30,000 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
LIMERICK, ME 04087

SBA Loan Lender

BIDDEFORD SAVINGS BANK
254 MAIN ST
BIDDEFORD, ME 04005

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

5/17/2006

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $30,000.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Biddeford Savings Bank and they will explain how you can get an SBA loan for your company.

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:

Role of Business Plan When Raising Money

SBA Participating Banks in Biddeford, Maine

SBA Lenders in Maine