How to Get a Loan for Welding and Soldering Equipment Manufacturing

With these SBA loans for welding and soldering equipment manufacturing, the SBA guarantees the lender that the loan will be repaid. This welding and soldering equipment manufacturing loan for $300,000 was given to a New York entrepreneur in 2007.

This small business knew how to go about getting a business bank loan. Based in Rochester, New York, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Genesee Regional Bank, based in Rochester, New York.

SBA Loan Borrower

COMPANY TYPE: WELDING AND SOLDERING EQUIPMENT MANUFACTURING
ROCHESTER, NY 14624

SBA Loan Lender

GENESEE REGIONAL BANK
3380 MONROE AVE
ROCHESTER, NY 14618

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

333992 - Welding and Soldering Equipment Manufacturing

Loan Approval Date

7/13/2007

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $150,000.

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 30 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 30 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Genesee Regional Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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