Loans for General Purpose Machinery Manufacturing

With these loans for general purpose machinery manufacturing, the SBA guarantees the lender that the loan will be repaid. This general purpose machinery manufacturing loan for $350,000 was given to a Pennsylvania entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Portland, Pennsylvania was able to borrow $350,000 from National Penn Bank. The SBA made the loan possible by guaranteeing $175,000 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL PURPOSE MACHINERY MANUFACTURING
Portland, PA 18351

SBA Loan Lender

NATIONAL PENN BANK
PHILADELPHIA & READING AVES
BOYERTOWN, PA 19512

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

333999 - General Purpose Machinery Manufacturing

Loan Approval Date

8/25/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

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 48 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 48 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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