Business Loans for Machine Tool Manufacturing
Looking for business loans for machine tool manufacturing? An SBA loan may be just what you've been looking for. This $60,000 machine tool manufacturing loan was issued by a New York bank.
This small business knew how to go about getting a business bank loan. Based in Salamanca, New York, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Manufacturers & Traders Trust, based in Amherst, New York.
SBA Loan Borrower
COMPANY TYPE: MACHINE TOOLS, METAL FORMING TYPES
SALAMANCA, NY 14779
SBA Loan Lender
MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226
This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
SIC Code
3542 - Machine Tools, Metal Forming Types
NAICS Code
333513 - Machine Tool Manufacturing
Loan Approval Date
6/13/2000
Loan Approval Gross Amount
$60,000
Loan Approval from the SBA
Of the total $60,000 loan amount, the SBA guaranteed $30,000.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Manufacturers & Traders Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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
SBA 7A Banks for Amherst, New York Loans
SBA Lenders in New York