How to Get a Loan for Ornamental and Architectural Metal Work Manufacturing

Looking for business loans for ornamental and architectural metal work manufacturing? Try the SBA. This $350,000 ornamental and architectural metal work manufacturing loan was issued by a New York bank.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Progressive Cu, out of New York City, New York. The loan was granted and they received $350,000 to help grow their Oceanside, New York business.

SBA Loan Borrower

COMPANY TYPE: ORNAMENTAL AND ARCHITECTURAL METAL WORK MANUFACTURING
OCEANSIDE, NY 11572

SBA Loan Lender

PROGRESSIVE CU
370 7TH AVE, STE 1400
NEW YORK CITY, NY 10001

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332323 - Ornamental and Architectural Metal Work Manufacturing

Loan Approval Date

12/28/2004

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 11 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 11 existing jobs.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Progressive Cu so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Understanding Dilution

Small Business Banks in New York City, New York

New York SBA Bank Lenders