Getting an SBA Loan for Manufacturing
Looking for commercial loans for manufacturing? Talk to a banker who works with the SBA. This $880,000 manufacturing loan was issued by an Alabama bank.
This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Compass Bank, out of Birmingham, Alabama. The loan was granted and they received $880,000 to help grow their Giddings, Texas business.
SBA Loan Borrower
COMPANY TYPE: MANUFACTURING INDUSTRIES
GIDDINGS, TX 78942
SBA Loan Lender
15 S 20TH ST
BIRMINGHAM, AL 35233
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.
3999 - Manufacturing Industries
339999 - Manufacturing
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $880,000 loan amount, the SBA guaranteed $660,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 47 employees. The SBA loan documents indicated that the loan would help retain 47 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
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.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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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