Power-Driven Handtool Manufacturing SBA Loans
With these SBA loans for power-driven handtool manufacturing, the SBA guarantees the lender that the loan will be repaid. This power-driven handtool manufacturing loan for $5,000 was given to a Pennsylvania entrepreneur in 2003.
This business knew how to go about getting a business bank loan. Based in West Newton, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Rbs Citizens, based in Providence, Rhode Island.
SBA Loan Borrower
COMPANY TYPE: POWER-DRIVEN HANDTOOL MANUFACTURING
WEST NEWTON, PA 15089
SBA Loan Lender
RBS CITIZENS
ONE CITIZENS PLAZA
PROVIDENCE, RI 02903
This lender processed this commercial 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
333991 - Power-Driven Handtool Manufacturing
Loan Approval Date
2/21/2003
Loan Approval Gross Amount
$5,000
Loan Approval from the SBA
Of the total $5,000 loan amount, the SBA guaranteed $2,500.
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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $5,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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.
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