How to Get a Loan for Powder Metallurgy Part Manufacturing

With these business loans for powder metallurgy part manufacturing, the SBA guarantees the lender that the loan will be repaid. This powder metallurgy part manufacturing loan for $275,000 was given to a North Dakota entrepreneur in 2005.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with The Goose River Bank, out of Hillsboro, North Dakota. The loan was granted and they received $275,000 to help grow their Hillsboro, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: ARCHITECTURAL AND ORNAMENTAL METAL WORK
HILLSBORO, ND 58045

SBA Loan Lender

THE GOOSE RIVER BANK
515 W CALEDONIA AVE
HILLSBORO, ND 58045

This bank 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

3446 - Architectural and Ornamental Metal Work

NAICS Code

332117 - Powder Metallurgy Part Manufacturing

Loan Approval Date

1/5/2005

Loan Approval Gross Amount

$275,000

Loan Approval from the SBA

Of the total $275,000 loan amount, the SBA guaranteed $206,250.

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 9 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must 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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like The Goose River Bank and they will explain how you can get an SBA loan for your company.

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:

Business Credit Evaluation

Best Banks for Small Business in Hillsboro, North Dakota

Getting an SBA Loan in North Dakota