Machine Shops Commercial Loans

Looking for commercial loans for machine shops? Talk to a banker who works with the SBA. This $204,000 machine shops loan was issued by a Vermont bank.

This business knew how to go about getting a business bank loan. Based in Lyndon Center, Vermont, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Community National Bank, based in Lyndonville, Vermont.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
LYNDON CENTER, VT 05850

SBA Loan Lender

COMMUNITY NATIONAL BANK
1033 BROAD ST
LYNDONVILLE, VT 05851

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

332710 - Machine Shops

Loan Approval Date

9/3/2003

Loan Approval Gross Amount

$204,000

Loan Approval from the SBA

Of the total $204,000 loan amount, the SBA guaranteed $102,000.

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 13 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 2 new jobs.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Community National 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:

Getting a Small Business Loan

Who Lends Money to Small Businesses in Lyndonville, Vermont

Vermont SBA Bank Lenders