Where to Get Capital for Machine Tool Manufacturing

With these SBA loans for machine tool manufacturing, the SBA guarantees the lender that the loan will be repaid. This machine tool manufacturing loan for $75,000 was given to a Pennsylvania entrepreneur in 2004.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First National Bank - Pennsylvania, out of Hermitage, Pennsylvania. The loan was granted and they received $75,000 to help grow their Lower Burrell, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOL MANUFACTURING
LOWER BURRELL, PA 15068

SBA Loan Lender

FIRST NATIONAL BANK - PENNSYLVANIA
3320 E STATE ST
HERMITAGE, PA 16148

This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

333513 - Machine Tool Manufacturing

Loan Approval Date

8/13/2004

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 25 employees. The SBA loan application for the borrower indicated that the loan would help retain 25 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First National Bank - Pennsylvania that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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 Approved Banks in Hermitage, Pennsylvania

Pennsylvania SBA 7A Lenders