Raising Money for Machine Shops
With these business loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $100,000 was given to a New Jersey entrepreneur in 2006.
This small business knew how to go about getting a business bank loan. Based in Shamong, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Pnc Bank, National Association, based in Pittsburgh, Pennsylvania.
SBA Loan Borrower
COMPANY TYPE: MACHINE SHOPS
SHAMONG, NJ 08088
SBA Loan Lender
PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222
This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
332710 - Machine Shops
Loan Approval Date
3/31/2006
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $50,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
We can help you find the best banks for small businesses in Shamong 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.
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