Small Business Loans for Food Product Machinery Manufacturing

With these small business loans for food product machinery manufacturing, the SBA guarantees the lender that the loan will be repaid. This food product machinery manufacturing loan for $500,000 was given to an Indiana entrepreneur in 2008.

This company knew how to go about getting a business bank loan. Based in Mooresville, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was Busey Bank, based in Champaign, Illinois.

SBA Loan Borrower

COMPANY TYPE: FOOD PRODUCT MACHINERY MANUFACTURING
MOORESVILLE, IN 46158

SBA Loan Lender

BUSEY BANK
100 W UNIVERSITY AVE
CHAMPAIGN, IL 61820

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

333294 - Food Product Machinery Manufacturing

Loan Approval Date

1/31/2008

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 61 employees. The loan application indicated that the loan would help generate 17 new jobs and retain 61 existing jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $500,000 loan. Remember, anyone can do it... so why not you?

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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