Cutting Tool and Machine Tool Accessory Manufacturing SBA Loans

Looking for SBA loans for cutting tool and machine tool accessory manufacturing? Talk to a banker who works with the SBA. This $65,000 cutting tool and machine tool accessory manufacturing loan was issued by a Maine bank.

This small business knew how to go about getting a business bank loan. Based in Wolcott, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Td Banknorth, based in Portland, Maine.

SBA Loan Borrower

COMPANY TYPE: CUTTING TOOL AND MACHINE TOOL ACCESSORY MANUFACTURING
Wolcott, CT 06708

SBA Loan Lender

TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

333515 - Cutting Tool and Machine Tool Accessory Manufacturing

Loan Approval Date

6/8/2004

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $32,500.

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 3 employees. This SBA loan request did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to borrow money from friends and family, 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:

Financing Your Business

SBA 7A Banks for Portland, Maine Loans

Maine SBA Bank Lenders