Where to Get Capital for Motor and Generator Manufacturing

With these small business loans for motor and generator manufacturing, the SBA guarantees the lender that the loan will be repaid. This motor and generator manufacturing loan for $150,000 was given to a Texas entrepreneur in 2003.

This small firm knew how to go about getting a business bank loan. Based in Mansfield, Texas, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was State National Bank, based in Arlington, Texas.

SBA Loan Borrower

COMPANY TYPE: MOTOR AND GENERATOR MANUFACTURING
MANSFIELD, TX 76063

SBA Loan Lender

STATE NATIONAL BANK
921 W LAMAR
ARLINGTON, TX 76012

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

335312 - Motor and Generator Manufacturing

Loan Approval Date

1/23/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a business in Mansfield TX, you ought to talk with a local Mansfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mansfield businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from State National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

How to Raise Money

SBA 7A Banks for Arlington, Texas Loans

SBA Participating Banks in Texas