Metalworking Machinery Manufacturing Bank Loans

Looking for bank loans for metalworking machinery manufacturing? Try the SBA. This $250,000 metalworking machinery manufacturing loan was issued by an Indiana bank.

Getting a small business loan in Mooresville, Indiana was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Indiana Business Bank, operating out of Indianapolis, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: METALWORKING MACHINERY
MOORESVILLE, IN 46158

SBA Loan Lender

INDIANA BUSINESS BANK
250 E 96TH ST, STE 100
INDIANAPOLIS, IN 46240

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3549 - Metalworking Machinery

NAICS Code

333518 - Metalworking Machinery Manufacturing

Loan Approval Date

12/14/2004

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 40 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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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