Machine Shops Small Business Loans

Looking for small business loans for machine shops? Try the SBA. This $1,314,000 machine shops loan was issued by an Ohio bank.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Consumers National Bank, out of Minerva, Ohio. The loan was granted and they received $1,314,000 to help grow their Salem, Ohio business.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
SALEM, OH 44460

SBA Loan Lender

CONSUMERS NATIONAL BANK
614 E LINCOLN WAY
MINERVA, OH 44657

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

1/19/2006

Loan Approval Gross Amount

$1,314,000

Loan Approval from the SBA

Of the total $1,314,000 loan amount, the SBA guaranteed $985,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 16 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We can help you find the best banks for small businesses in Salem or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Bank Credit Lines

SBA 7A Banks for Minerva, Ohio Loans

Ohio SBA Bank Lenders