Bank Loans for Machine Shops

Looking for bank loans for machine shops? An SBA loan may be just what you've been looking for. This $162,200 machine shops loan was issued by an Utah bank.

This small firm knew how to go about getting a business bank loan. Based in Lindon, Vermont, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Central Bank, based in Provo, Utah.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
LINDON, VT 84042

SBA Loan Lender

CENTRAL BANK
75 N UNIVERSITY AVE
PROVO, UT 84601

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

8/29/2007

Loan Approval Gross Amount

$162,200

Loan Approval from the SBA

Of the total $162,200 loan amount, the SBA guaranteed $121,650.

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 only one employee. The loan application indicated that the funding would help generate 1 new job.

Next Steps for Getting an SBA Loan

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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