How to Get a Loan for Metalworking Machinery Manufacturing

With these business loans for metalworking machinery manufacturing, the SBA guarantees the lender that the loan will be repaid. This metalworking machinery manufacturing loan for $200,000 was given to an Illinois entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Worth, Illinois was able to borrow $200,000 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $150,000 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: METALWORKING MACHINERY MANUFACTURING
WORTH, IL 60482

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333518 - Metalworking Machinery Manufacturing

Loan Approval Date

3/24/2005

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 6 employees. The SBA loan application for the borrower indicated that the funding would help generate 4 new jobs.

Start the Process for Getting an SBA Loan Today!

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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Raising Venture Capital

SBA Participating Banks in Grand Rapids, Michigan

Michigan SBA Bank Lenders