Raising Money for Motor and Generator Manufacturing

Looking for bank loans for motor and generator manufacturing? Try the SBA. This $287,500 motor and generator manufacturing loan was issued by a Texas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Longview, Texas was able to borrow $287,500 from Southside Bank. The SBA made the loan possible by guaranteeing $215,625 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR AND GENERATOR MANUFACTURING
LONGVIEW, TX 75601

SBA Loan Lender

SOUTHSIDE BANK
1201 S BECKHAM
TYLER, TX 75701

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

335312 - Motor and Generator Manufacturing

Loan Approval Date

9/17/2004

Loan Approval Gross Amount

$287,500

Loan Approval from the SBA

Of the total $287,500 loan amount, the SBA guaranteed $215,625.

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 5 employees. The SBA loan documents indicated that the borrowed money would help create 12 new jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We can help you find the best banks for small businesses in Longview or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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