Rolled Steel Shape Manufacturing Small Business Loans

Looking for small business loans for rolled steel shape manufacturing? Talk to a banker who works with the SBA. This $150,000 rolled steel shape manufacturing loan was issued by a Pennsylvania bank.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Univest National Bank & Trust., out of Doylestown, Pennsylvania. The loan was granted and they received $150,000 to help grow their Conshohocken, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: STEEL WORKS, BLAST FURNACES AND ROLLING MILLS
CONSHOHOCKEN, PA 19428

SBA Loan Lender

UNIVEST NATIONAL BANK & TRUST.
842 N EASTON RD
DOYLESTOWN, PA 18901

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

3312 - Steel Works, Blast Furnaces and Rolling Mills

NAICS Code

331221 - Rolled Steel Shape Manufacturing

Loan Approval Date

10/21/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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