How to Get a Loan for General Purpose Machinery Manufacturing

With these business loans for general purpose machinery manufacturing, the SBA guarantees the lender that the loan will be repaid. This general purpose machinery manufacturing loan for $100,000 was given to a Missouri entrepreneur in 2003.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Empire Bank, out of Springfield, Missouri. The loan was granted and they received $100,000 to help grow their Springfield, Missouri business.

SBA Loan Borrower

COMPANY TYPE: GENERAL INDUSTRIAL MACHINERY AND EQUIPMENT, N.E.C
SPRINGFIELD, MO 65801

SBA Loan Lender

EMPIRE BANK
1800 S GLENSTONE
SPRINGFIELD, MO 65804

This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3569 - General Industrial Machinery and Equipment, N.E.C

NAICS Code

333999 - General Purpose Machinery Manufacturing

Loan Approval Date

8/19/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 10 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Empire Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Empire 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:

Realistic Debt Financing Options

Find an SBA Lender in Springfield, Missouri

Missouri SBA Banks