Commercial and Industrial Machinery and Equipment Bank Loans

Looking for bank loans for commercial and industrial machinery and equipment? An SBA loan may be just what you've been looking for. This $50,000 commercial and industrial machinery and equipment loan was issued by a Virginia bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Linden, Virginia was able to borrow $50,000 from United Bank. The SBA made the loan possible by guaranteeing $42,500 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: WELDING REPAIR
LINDEN, VA 22642

SBA Loan Lender

UNITED BANK
4095 VALLEY PIKE
WINCHESTER, VA 22602

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7692 - Welding Repair

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

7/16/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 20 employees. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

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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