Borrowing Money for Commercial and Industrial Machinery and Equipment
Looking for loans for commercial and industrial machinery and equipment? Try the SBA. This $600,000 commercial and industrial machinery and equipment loan was issued by a New York bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Maspeth, New York was able to borrow $600,000 from Carver Federal Savings Bank. The SBA made the loan possible by guaranteeing $450,000 of this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
MASPETH, NY 11378
SBA Loan Lender
CARVER FEDERAL SAVINGS BANK
111 LIVINGSTON ST
NEW YORK CITY, NY 11201
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
811310 - Commercial and Industrial Machinery and Equipment
Loan Approval Date
10/31/2002
Loan Approval Gross Amount
$600,000
Loan Approval from the SBA
Of the total $600,000 loan amount, the SBA guaranteed $450,000.
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 12 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Carver Federal Savings Bank and they will explain how you can get an SBA loan for your company.
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.
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