Commercial Loans for Precision Turned Product Manufacturing

Looking for commercial loans for precision turned product manufacturing? The SBA may be the answer. This $256,000 precision turned product manufacturing loan was issued by a South Dakota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in South Windsor, Connecticut was able to borrow $256,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $217,600 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: PRECISION TURNED PRODUCT MANUFACTURING
South Windsor, CT 06074

SBA Loan Lender

WELLS FARGO BANK
101 N PHILIPS AVE
SIOUX FALLS, SD 57104

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

332721 - Precision Turned Product Manufacturing

Loan Approval Date

1/25/2007

Loan Approval Gross Amount

$256,000

Loan Approval from the SBA

Of the total $256,000 loan amount, the SBA guaranteed $217,600.

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 28 employees. The SBA loan application for the borrower indicated that the loan would help generate 7 new jobs and retain 28 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wells Fargo Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

VC Firms on Twitter

Where to Get an SBA Loan in Sioux Falls, South Dakota

South Dakota SBA Banks