Get an SBA Loan for Machine Shops

With these small business loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $76,500 was given to a Pennsylvania entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Palmyra, Pennsylvania was able to borrow $76,500 from Commerce Bank/harrisburg Natl. The SBA made the loan possible by guaranteeing $65,025 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
Palmyra, PA 17078

SBA Loan Lender

COMMERCE BANK/HARRISBURG NATL
1249 MARKET ST
LEMOYNE, PA 17043

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

7/28/2006

Loan Approval Gross Amount

$76,500

Loan Approval from the SBA

Of the total $76,500 loan amount, the SBA guaranteed $65,025.

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 no employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Commerce Bank/harrisburg Natl and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Determining Proper Capital Structure for a Business

Best Lemoyne, Pennsylvania Banks for Small Business

Getting an SBA Loan in Pennsylvania