Getting an SBA Loan for Bolt, Nut, Screw, Rivet, and Washer Manufacturing

Looking for commercial loans for bolt, nut, screw, rivet, and washer manufacturing? The SBA may be the answer. This $1,189,000 bolt, nut, screw, rivet, and washer manufacturing loan was issued by a New Jersey bank.

This business knew how to go about getting a business bank loan. Based in Torrington, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Cit Small Business Lending Corp, based in Livingston, New Jersey.

SBA Loan Borrower

COMPANY TYPE: BOLT, NUT, SCREW, RIVET, AND WASHER MANUFACTURING
TORRINGTON, CT 06790

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332722 - Bolt, Nut, Screw, Rivet, and Washer Manufacturing

Loan Approval Date

10/16/2007

Loan Approval Gross Amount

$1,189,000

Loan Approval from the SBA

Of the total $1,189,000 loan amount, the SBA guaranteed $891,750.

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 20 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Torrington 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.

Related Links:

Borrowing Money from Friends and Family

SBA Participating Banks in Livingston, New Jersey

New Jersey SBA Banks