Where to Get Capital for Machine Tool Manufacturing

With these SBA loans for machine tool manufacturing, the SBA guarantees the lender that the loan will be repaid. This machine tool manufacturing loan for $50,000 was given to a Vermont entrepreneur in 2004.

This small business knew how to go about getting a business bank loan. Based in Vernon, Vermont, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Greenfield Savings Bank, based in Greenfield, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOL MANUFACTURING
VERNON, VT 05354

SBA Loan Lender

GREENFIELD SAVINGS BANK
400 MAIN ST
GREENFIELD, MA 01302

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

333512 - Machine Tool Manufacturing

Loan Approval Date

3/31/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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

Advice on Getting a Small Business Loan

Small Business Banks in Greenfield, Massachusetts

Massachusetts SBA 7A Lenders