Business Loans for Transportation Equipment Manufacturing

With these business loans for transportation equipment manufacturing, the SBA guarantees the lender that the loan will be repaid. This transportation equipment manufacturing loan for $35,000 was given to an Oregon entrepreneur in 2004.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Summit Bank, out of Eugene, Oregon. The loan was granted and they received $35,000 to help grow their Mckenzie Bridge, Oregon business.

SBA Loan Borrower

COMPANY TYPE: TRANSPORTATION EQUIPMENT MANUFACTURING
MCKENZIE BRIDGE, OR 97413

SBA Loan Lender

SUMMIT BANK
96 E BROADWAY
EUGENE, OR 97401

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

336999 - Transportation Equipment Manufacturing

Loan Approval Date

5/26/2004

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

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 only one employee. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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 Summit 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:

Financing Your Business

Small Business Banks in Eugene, Oregon

Getting an SBA Loan in Oregon