Where to Get Capital for General Purpose Machinery Manufacturing

With 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
PITTSBURGH, PA 15017

SBA Loan Lender

UPS CAPITAL BUSINESS CREDIT
425 DAY HILL RD
WINDSOR, CT 06095

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:

Business Line of Credit

SBA Banks in Windsor, Connecticut

Connecticut SBA 7A Lenders