Borrowing Money for Machine Shops

Looking for bank loans for machine shops? Try the SBA. This $220,000 machine shops loan was issued by a Wisconsin bank.

Getting a small business loan in Platteville, Wisconsin was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Farmers Savings Bank, operating out of Mineral Point, Wisconsin. Here are the details on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING INDUSTRIES
PLATTEVILLE, WI 53818

SBA Loan Lender

FARMERS SAVINGS BANK
305 DOTY ST
MINERAL POINT, WI 53565

This SBA small business 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

3999 - Manufacturing Industries

NAICS Code

332710 - Machine Shops

Loan Approval Date

7/19/2002

Loan Approval Gross Amount

$220,000

Loan Approval from the SBA

Of the total $220,000 loan amount, the SBA guaranteed $165,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

How Much Venture Capital Is There?

Small Bank Loans in Mineral Point, Wisconsin

Wisconsin SBA Bank Lenders