Where to Get Capital for Commercial and Industrial Machinery and Equipment

Looking for SBA loans for commercial and industrial machinery and equipment? An SBA loan may be just what you've been looking for. This $100,000 commercial and industrial machinery and equipment loan was issued by an Ohio bank.

This business 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 2007. The lending bank was Keybank National Association, based in Cleveland, Ohio.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
Mooresville, IN 46158

SBA Loan Lender

KEYBANK NATIONAL ASSOCIATION
127 PUBLIC SQ
CLEVELAND, OH 44114

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

5/31/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 9 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 9 existing jobs.

Getting an SBA Loan For Your Business

If you are raising money in Mooresville IN, you ought to talk with a local Mooresville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mooresville businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Keybank National Association that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

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Banks in Cleveland, Ohio

SBA Participating Banks in Ohio