Where to Get Capital for Precision Turned Product Manufacturing

With these small business loans for precision turned product manufacturing, the SBA guarantees the lender that the loan will be repaid. This precision turned product manufacturing loan for $1,025,000 was given to a Pennsylvania entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pittsburgh, Pennsylvania was able to borrow $1,025,000 from Bank Of The West. The SBA made the loan possible by guaranteeing $749,993 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: SCREW MACHINE PRODUCTS
PITTSBURGH, PA 15239

SBA Loan Lender

BANK OF THE WEST
180 MONTGOMERY ST
SAN FRANCISCO, CA 94104

This SBA small business loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending track record and are well trained in SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3451 - Screw Machine Products

NAICS Code

332721 - Precision Turned Product Manufacturing

Loan Approval Date

6/29/2000

Loan Approval Gross Amount

$1,025,000

Loan Approval from the SBA

Of the total $1,025,000 loan amount, the SBA guaranteed $749,993.

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 56 employees. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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.

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