Business Loan from Bank Of The West Given to Machine Tools, Metal Cutting Types Company

Bank Of The West and the SBA work together to get business loans for growing small businesses. Here's an example of how a Florida entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Oldsmar, Florida was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Bank Of The West, operating out of Truckee, California. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOLS, METAL CUTTING TYPES
OLDSMAR, FL 34677

SBA Loan Lender

BANK OF THE WEST
10069 BRIDGE ST
TRUCKEE, CA 96161

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

6/7/2001

Loan Approval Gross Amount

$1,750,000

Loan Approval from the SBA

Of the total $1,750,000 loan amount, the SBA guaranteed $999,999.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 26 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,750,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Bank Credit Lines

SBA Banks in Truckee, California

SBA Participating Banks in California