Powder Metallurgy Part Manufacturing Business Loans

With these business loans for powder metallurgy part manufacturing, the SBA guarantees the lender that the loan will be repaid. This powder metallurgy part manufacturing loan for $400,000 was given to a Massachusetts entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Waltham, Massachusetts was able to borrow $400,000 from Danversbank. The SBA made the loan possible by guaranteeing $300,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: ALUMINUM FOUNDRIES
WALTHAM, MA 02453

SBA Loan Lender

DANVERSBANK
1 CONANT ST
DANVERS, MA 01923

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3365 - Aluminum Foundries

NAICS Code

332117 - Powder Metallurgy Part Manufacturing

Loan Approval Date

2/9/2001

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

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 22 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

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.

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

Attracting Investors

Where to Get an SBA Loan in Danvers, Massachusetts

Massachusetts SBA 7A Lenders