Loans for Machine Tool Manufacturing
Looking for loans for machine tool manufacturing? The SBA may be the answer. This $121,500 machine tool manufacturing loan was issued by an Indiana bank.
This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with National City Bank, out of Indianapolis, Indiana. The loan was granted and they received $121,500 to help grow their Canal Winchester, Ohio business.
SBA Loan Borrower
COMPANY TYPE: MACHINE TOOLS, METAL CUTTING TYPES
CANAL WINCHESTER, OH 43310
SBA Loan Lender
NATIONAL CITY BANK
101 W WASHINGTON ST # 100 E
INDIANAPOLIS, IN 46255
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
3541 - Machine Tools, Metal Cutting Types
NAICS Code
333512 - Machine Tool Manufacturing
Loan Approval Date
3/6/2000
Loan Approval Gross Amount
$121,500
Loan Approval from the SBA
Of the total $121,500 loan amount, the SBA guaranteed $91,125.
More Information on This SBA Loan
The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 9 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
This SBA loan was for $121,500. How would you spend $121,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
Find Start-Up Capital
SBA Banks in Indianapolis, Indiana
Indiana SBA Bank Lenders