Small Business Loans for Electrical Equipment and Component Manufacturing

Looking for small business loans for electrical equipment and component manufacturing? An SBA loan may be just what you've been looking for. This $410,000 electrical equipment and component manufacturing loan was issued by a Wyoming bank.

This company knew how to go about getting a business bank loan. Based in Lusk, Wyoming, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Lusk State Bank, based in Lusk, Wyoming.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL MACHINERY, EQUIPMENT, AND SUPPLIES
LUSK, WY 82225

SBA Loan Lender

LUSK STATE BANK
415 S MAIN ST
LUSK, WY 82225

This lender issued this SBA business loan under the SBA 7A lending 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

3699 - Electrical Machinery, Equipment, and Supplies

NAICS Code

335999 - Electrical Equipment and Component Manufacturing

Loan Approval Date

5/21/2002

Loan Approval Gross Amount

$410,000

Loan Approval from the SBA

Of the total $410,000 loan amount, the SBA guaranteed $307,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 11 employees. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Lusk State Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Small Business Loan

SBA Approved Banks in Lusk, Wyoming

Wyoming SBA 7A Banks