Loans for Machine Tool Manufacturing
With these loans for machine tool manufacturing, the SBA guarantees the lender that the loan will be repaid. This machine tool manufacturing loan for $150,000 was given to a North Carolina entrepreneur in 2000.
Getting a small business loan in Greenville, North Carolina was important for this growing firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from The East Carolina Bank, operating out of Greenville, North Carolina. Here are the details on this North Carolina small business loan.
SBA Loan Borrower
COMPANY TYPE: MACHINE TOOLS, METAL FORMING TYPES
GREENVILLE, NC 27834
SBA Loan Lender
THE EAST CAROLINA BANK
2400 STANTONSBURG RD
GREENVILLE, NC 27834
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
3542 - Machine Tools, Metal Forming Types
NAICS Code
333513 - Machine Tool Manufacturing
Loan Approval Date
9/22/2000
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $112,500.
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 10 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The East Carolina Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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:
Attracting Investors
Where to Get an SBA Loan in Greenville, North Carolina
North Carolina SBA 7A Lenders