Getting an SBA Loan for Machine Shops

Looking for commercial loans for machine shops? Talk to a banker who works with the SBA. This $20,000 machine shops loan was issued by a Pennsylvania bank.

This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Vist Bank, out of Wyomissing, Pennsylvania. The loan was granted and they received $20,000 to help grow their Reading, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
READING, PA 19606

SBA Loan Lender

VIST BANK
1240 BROADCASTING RD
WYOMISSING, PA 19610

This lender processed this bank 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

332710 - Machine Shops

Loan Approval Date

2/9/2006

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start business in Reading PA, you ought to talk with a local Reading SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Reading businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $20,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Small Business Credit Cards

Best Banks in Wyomissing, Pennsylvania

Pennsylvania SBA Banks