Machine Tool Manufacturing Commercial Loans

With these commercial loans for machine tool manufacturing, the SBA guarantees the lender that the loan will be repaid. This machine tool manufacturing loan for $710,000 was given to an Utah entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in West Jordan, Utah was able to borrow $710,000 from Centennial Bank. The SBA made the loan possible by guaranteeing $532,500 of this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOL MANUFACTURING
WEST JORDAN, UT 84088

SBA Loan Lender

CENTENNIAL BANK
4605 HARRISON BLVD, STE 103
OGDEN, UT 84403

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333512 - Machine Tool Manufacturing

Loan Approval Date

12/1/2004

Loan Approval Gross Amount

$710,000

Loan Approval from the SBA

Of the total $710,000 loan amount, the SBA guaranteed $532,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $710,000 loan. Remember, you control your own destiny.

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:

How to Raise Money

SBA Approved Banks in Ogden, Utah

Getting an SBA Loan in Utah