Financing for General Purpose Machinery Manufacturing
Looking for commercial loans for general purpose machinery manufacturing? Try the SBA. This $945,000 general purpose machinery manufacturing loan was issued by a Nebraska bank.
This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Cerescobank, out of Ceresco, Nebraska. The loan was granted and they received $945,000 to help grow their Lincoln, Nebraska business.
SBA Loan Borrower
COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT
LINCOLN, NE 68508
SBA Loan Lender
CERESCOBANK
130 W ELM
CERESCO, NE 68017
This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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
3599 - Industrial and Commercial Machinery and Equipment
NAICS Code
333999 - General Purpose Machinery Manufacturing
Loan Approval Date
6/4/2004
Loan Approval Gross Amount
$945,000
Loan Approval from the SBA
Of the total $945,000 loan amount, the SBA guaranteed $708,750.
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 application for the borrower did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
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.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Cerescobank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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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