Small Business Loans for Machine Shops

With these small business loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $268,000 was given to an Ohio entrepreneur in 2005.

Getting a small business loan in Massillon, Ohio was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from National City Bank, operating out of Cleveland, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
Massillon, OH 44646

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

332710 - Machine Shops

Loan Approval Date

10/18/2005

Loan Approval Gross Amount

$268,000

Loan Approval from the SBA

Of the total $268,000 loan amount, the SBA guaranteed $134,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

If you want money for new small business in Massillon OH, you ought to talk with a local Massillon SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Massillon businesses.

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 $268,000 loan. Remember, feel the fear, and do it anyway.

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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