Getting an SBA Loan for Welding and Soldering Equipment Manufacturing

Looking for business loans for welding and soldering equipment manufacturing? The SBA may be the answer. This $91,600 welding and soldering equipment manufacturing loan was issued by a Virginia bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Richlands, Virginia was able to borrow $91,600 from National Bank - Blacksburg. The SBA made the loan possible by guaranteeing $77,860 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: WELDING AND SOLDERING EQUIPMENT MANUFACTURING
RICHLANDS, VA 24641

SBA Loan Lender

NATIONAL BANK - BLACKSBURG
309 E MAIN ST
TAZEWELL, VA 24651

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333992 - Welding and Soldering Equipment Manufacturing

Loan Approval Date

1/24/2005

Loan Approval Gross Amount

$91,600

Loan Approval from the SBA

Of the total $91,600 loan amount, the SBA guaranteed $77,860.

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 5 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from National Bank - Blacksburg so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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