Bank Loans for General Purpose Machinery Manufacturing

Looking for bank loans for general purpose machinery manufacturing? Talk to a banker who works with the SBA. This $635,000 general purpose machinery manufacturing loan was issued by a North Carolina bank.

Getting a small business loan in Sparta, North Carolina was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First Commun Bank, operating out of Sparta, North Carolina. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL PURPOSE MACHINERY MANUFACTURING
SPARTA, NC 28675

SBA Loan Lender

FIRST COMMUN BANK
57 N MAIN ST
SPARTA, NC 28675

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333999 - General Purpose Machinery Manufacturing

Loan Approval Date

11/25/2003

Loan Approval Gross Amount

$635,000

Loan Approval from the SBA

Of the total $635,000 loan amount, the SBA guaranteed $476,250.

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

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Commun Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Commun Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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SBA 7A Banks for Sparta, North Carolina Loans

SBA Participating Banks in North Carolina