Bank Loans for Commercial and Industrial Machinery and Equipment

Looking for bank loans for commercial and industrial machinery and equipment? Talk to a banker who works with the SBA. This $50,000 commercial and industrial machinery and equipment loan was issued by an Ohio bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Campbell, Ohio was able to borrow $50,000 from First National Bank - Pennsylvania. The SBA made the loan possible by guaranteeing $40,000 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: WELDING REPAIR
CAMPBELL, OH 44405

SBA Loan Lender

FIRST NATIONAL BANK - PENNSYLVANIA
ONE FEDERAL PLZ WEST
YOUNGSTOWN, OH 44503

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7692 - Welding Repair

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

8/7/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Campbell or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Small Business Loan

SBA Approved Banks in Youngstown, Ohio

Getting a Business Loan in Ohio