Borrowing Money for Machine Shops

Looking for bank loans for machine shops? Talk to a banker who works with the SBA. This $639,700 machine shops loan was issued by a Nebraska bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Norfolk, Nebraska was able to borrow $639,700 from St. National Bank & Trust. The SBA made the loan possible by guaranteeing $479,775 of this Nebraska small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT
NORFOLK, NE 68702

SBA Loan Lender

ST. NATIONAL BANK & TRUST
122 MAIN ST
WAYNE, NE 68787

This lender issued this SBA business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3599 - Industrial and Commercial Machinery and Equipment

NAICS Code

332710 - Machine Shops

Loan Approval Date

10/15/2004

Loan Approval Gross Amount

$639,700

Loan Approval from the SBA

Of the total $639,700 loan amount, the SBA guaranteed $479,775.

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 5 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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 $639,700 loan. Remember, if it to be, it is up to me!

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:

Obtaining Funding - How to Borrow Money

SBA 7A Banks in Wayne, Nebraska

Where to Get an SBA Loan Nebraska