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 $336,000 was given to a Missouri entrepreneur in 2000.

Getting a small business loan in St. Joseph, Missouri was important for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Merrill Lynch Bank Usa, operating out of Salt Lake City, Utah. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
ST. JOSEPH, MO 64503

SBA Loan Lender

MERRILL LYNCH BANK USA
15 W SOUTH TEMPLE, STE 300
SALT LAKE CITY, UT 84101

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

11/29/2000

Loan Approval Gross Amount

$336,000

Loan Approval from the SBA

Of the total $336,000 loan amount, the SBA guaranteed $252,000.

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 19 employees. This SBA loan request indicated that the borrowed money would help generate 17 new jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Merrill Lynch Bank Usa 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:

Getting a Small Business Loan

Good Banks for Small Business in Salt Lake City, Utah

SBA Utah Lenders