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November 21, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Windsor, Business Loans > Ups Capital Business Credit Windsor Business Loans > General Purpose Machinery Manufacturing Loan | ||||
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What Does It Take to Get a Business Loan in Pittsburgh, Pennsylvania?
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Where to Get Capital for General Purpose Machinery ManufacturingWith these SBA loans for general purpose machinery manufacturing, the SBA guarantees the lender that the loan will be repaid. This general purpose machinery manufacturing loan for $450,000 was given to a Pennsylvania entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pittsburgh, Pennsylvania was able to borrow $450,000 from Ups Capital Business Credit. The SBA made the loan possible by guaranteeing $337,500 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL PURPOSE MACHINERY MANUFACTURING SBA Loan Lender UPS CAPITAL BUSINESS CREDIT This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending track record and a thorough understanding of SBA lending rules and regulations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333999 - General Purpose Machinery Manufacturing Loan Approval Date 3/4/2005 Loan Approval Gross Amount $450,000 Loan Approval from the SBA Of the total $450,000 loan amount, the SBA guaranteed $337,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 22 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Banks in Windsor, Connecticut
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