Getting an SBA Loan for Iron Foundries

With these commercial loans for iron foundries, the SBA guarantees the lender that the loan will be repaid. This iron foundries loan for $300,000 was given to a New York entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Oneida, New York, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was The Oneida Savings Bank, based in Oneida, New York.

SBA Loan Borrower

COMPANY TYPE: GRAY AND DUCTILE IRON FOUNDRIES
ONEIDA, NY 13421

SBA Loan Lender

THE ONEIDA SAVINGS BANK
182 MAIN ST
ONEIDA, NY 13421

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3321 - Gray and Ductile Iron Foundries

NAICS Code

331511 - Iron Foundries

Loan Approval Date

5/28/2004

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 18 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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