Raising Money for Nonferrous Die-Casting Foundries

With these bank loans for nonferrous die-casting foundries, the SBA guarantees the lender that the loan will be repaid. This nonferrous die-casting foundries loan for $750,000 was given to a Missouri entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Maplewood, Missouri was able to borrow $750,000 from Heartland Bank. The SBA made the loan possible by guaranteeing $562,500 of this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: NONFERROUS DIE-CASTING FOUNDRIES
MAPLEWOOD, MO 63143

SBA Loan Lender

HEARTLAND BANK
212 S CENTRAL AVE, STE 200
SAINT LOUIS, MO 63105

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

331522 - Nonferrous Die-Casting Foundries

Loan Approval Date

9/21/2006

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

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 25 employees. The loan application indicated that the loan would help retain 25 existing jobs.

Getting an SBA Loan For Your Business

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Heartland Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Obtaining Funding - Friends and Family

SBA Participating Banks in Saint Louis, Missouri

Getting an SBA Loan in Missouri