Financing for Nonferrous Foundries

Looking for loans for nonferrous foundries? An SBA loan may be just what you've been looking for. This $10,000 nonferrous foundries loan was issued by a New York bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Long Island City, New York was able to borrow $10,000 from Citibank. The SBA made the loan possible by guaranteeing $5,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: NONFERROUS FOUNDRIES
LONG ISLAND CITY, NY 11101

SBA Loan Lender

CITIBANK
1 COURT SQ
NEW YORK CITY, NY 11120

The lender provided this SBA small business 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

331528 - Nonferrous Foundries

Loan Approval Date

6/9/2004

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

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 6 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $10,000 loan. Remember, feel the fear, and do it anyway.

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:

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