Raising Money for Machine Shops

With these bank loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $202,300 was given to an Utah entrepreneur in 2002.

This company knew how to go about getting a business bank loan. Based in Salt Lake City, Utah, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Bank Of The West, based in Salt Lake City, Utah.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
SALT LAKE CITY, UT 84115

SBA Loan Lender

BANK OF THE WEST
142 EAST 200 SOUTH
SALT LAKE CITY, UT 84111

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

11/22/2002

Loan Approval Gross Amount

$202,300

Loan Approval from the SBA

Of the total $202,300 loan amount, the SBA guaranteed $151,725.

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 12 employees. The loan application indicated that the loan would help retain 12 existing jobs.

Getting an SBA Loan For Your Business

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

We've showcased information on this loan to let you know that businesses like yours 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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