How to Get a Loan for Industrial Machinery and Equipment Merchant Wholesalers

Looking for business loans for industrial machinery and equipment merchant wholesalers? Talk to a banker who works with the SBA. This $357,500 industrial machinery and equipment merchant wholesalers loan was issued by a California bank.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Santa Cruz County Bank, out of Santa Cruz, California. The loan was granted and they received $357,500 to help grow their Soquel, California business.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT MERCHANT WHOLESALERS
SOQUEL, CA 95073

SBA Loan Lender

SANTA CRUZ COUNTY BANK
325 SOQUEL AVE
SANTA CRUZ, CA 95062

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

423830 - Industrial Machinery and Equipment Merchant Wholesalers

Loan Approval Date

3/16/2007

Loan Approval Gross Amount

$357,500

Loan Approval from the SBA

Of the total $357,500 loan amount, the SBA guaranteed $268,125.

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 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Santa Cruz County Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Equity Financing

SBA Participating Banks in Santa Cruz, California

SBA California Banks