How to Get a Loan for Food Product Machinery Manufacturing

With these SBA loans for food product machinery manufacturing, the SBA guarantees the lender that the loan will be repaid. This food product machinery manufacturing loan for $1,148,000 was given to a Texas entrepreneur in 2003.

Getting a small business loan in San Antonio, Texas was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank, operating out of Dallas, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD PRODUCT MACHINERY MANUFACTURING
SAN ANTONIO, TX 78201

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333294 - Food Product Machinery Manufacturing

Loan Approval Date

1/10/2003

Loan Approval Gross Amount

$1,148,000

Loan Approval from the SBA

Of the total $1,148,000 loan amount, the SBA guaranteed $861,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 103 employees. The loan application indicated that the loan would help retain 103 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Comerica Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Comerica Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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 Participating Banks in Dallas, Texas

Find an SBA Lender in Texas