Getting an SBA Loan for Precision Turned Product Manufacturing

With these commercial loans for precision turned product manufacturing, the SBA guarantees the lender that the loan will be repaid. This precision turned product manufacturing loan for $220,000 was given to a Connecticut entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Britain, Connecticut was able to borrow $220,000 from Webster Bank. The SBA made the loan possible by guaranteeing $165,000 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: SCREW MACHINE PRODUCTS
NEW BRITAIN, CT 06051

SBA Loan Lender

WEBSTER BANK
609 W JOHNSON AVE
CHESHIRE, CT 06410

This small business loan was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA promises a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3451 - Screw Machine Products

NAICS Code

332721 - Precision Turned Product Manufacturing

Loan Approval Date

4/23/2002

Loan Approval Gross Amount

$220,000

Loan Approval from the SBA

Of the total $220,000 loan amount, the SBA guaranteed $165,000.

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 17 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 Webster 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.

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