Borrowing Money for Machine Tool Manufacturing
Looking for loans for machine tool manufacturing? Try the SBA. This $29,000 machine tool manufacturing loan was issued by a New York bank.
This small firm knew how to go about getting a business bank loan. Based in Wyoming, New York, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Five Star Bank, based in Warsaw, New York.
SBA Loan Borrower
COMPANY TYPE: MACHINE TOOL MANUFACTURING
WYOMING, NY 14591
SBA Loan Lender
FIVE STAR BANK
55 N MAIN ST
WARSAW, NY 14569
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
333513 - Machine Tool Manufacturing
Loan Approval Date
11/14/2002
Loan Approval Gross Amount
$29,000
Loan Approval from the SBA
Of the total $29,000 loan amount, the SBA guaranteed $24,650.
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 only one employee. The loan application indicated that the loan would help retain 1 existing job.
Start the Process for Getting an SBA Loan Today!
SBA loans provide money to small business owners for working capital for other expenses.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Five Star Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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:
Role of Business Plan When Raising Money
SBA Banks in Warsaw, New York
SBA Participating Banks in New York