Getting an SBA Loan for Commercial and Industrial Machinery and Equipment

With these commercial loans for commercial and industrial machinery and equipment, the SBA guarantees the lender that the loan will be repaid. This commercial and industrial machinery and equipment loan for $1,150,000 was given to a North Dakota entrepreneur in 2002.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Bremer Bank, out of Grand Forks, North Dakota. The loan was granted and they received $1,150,000 to help grow their Grand Forks, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: METALS SERVICE CENTERS AND OFFICES
GRAND FORKS, ND 58201

SBA Loan Lender

BREMER BANK
3100 S COLUMBIA RD
GRAND FORKS, ND 58201

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5051 - Metals Service Centers and Offices

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

1/8/2002

Loan Approval Gross Amount

$1,150,000

Loan Approval from the SBA

Of the total $1,150,000 loan amount, the SBA guaranteed $862,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 17 employees. The SBA loan documents did not indicate that the company planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This SBA loan was for $1,150,000. How would you spend $1,150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Getting a Small Business Loan

Find an SBA Lender in Grand Forks, North Dakota

North Dakota SBA 7A Lenders