Raising Money for Machine Tool Manufacturing

Looking for business loans for machine tool manufacturing? Try the SBA. This $65,700 machine tool manufacturing loan was issued by a Pennsylvania bank.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Dollar Bank A Fed. Savings Bk, out of Pittsburgh, Pennsylvania. The loan was granted and they received $65,700 to help grow their Eastlake, Ohio business.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOL MANUFACTURING
EASTLAKE, OH 44095

SBA Loan Lender

DOLLAR BANK A FED. SAVINGS BK
THREE GATEWAY CTR-1 EAST
PITTSBURGH, PA 15222

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

333512 - Machine Tool Manufacturing

Loan Approval Date

1/10/2006

Loan Approval Gross Amount

$65,700

Loan Approval from the SBA

Of the total $65,700 loan amount, the SBA guaranteed $32,850.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 9 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 9 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Dollar Bank A Fed. Savings Bk so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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