Business Loans for Food Product Machinery Manufacturing

Looking for business loans for food product machinery manufacturing? The SBA may be the answer. This $7,500 food product machinery manufacturing loan was issued by a Washington bank.

Getting a small business loan in Marlin, Washington was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Wheatland Bank, operating out of Odessa, Washington. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD PRODUCT MACHINERY MANUFACTURING
MARLIN, WA 99159

SBA Loan Lender

WHEATLAND BANK
22 E 1ST AVE
ODESSA, WA 99159

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333294 - Food Product Machinery Manufacturing

Loan Approval Date

5/20/2003

Loan Approval Gross Amount

$7,500

Loan Approval from the SBA

Of the total $7,500 loan amount, the SBA guaranteed $6,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

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 Wheatland 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 - How to Decide How Much to Raise

SBA Approved Banks in Odessa, Washington

SBA Washington Lenders