Raising Money for Machine Tool Manufacturing
Looking for bank loans for machine tool manufacturing? The SBA may be the answer. This $29,000 machine tool manufacturing loan was issued by a Texas bank.
This small firm knew how to go about getting a business bank loan. Based in Tyler, Texas, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Austin Bank Texas, based in Rusk, Texas.
SBA Loan Borrower
COMPANY TYPE: MACHINE TOOLS, METAL CUTTING TYPES
TYLER, TX 75708
SBA Loan Lender
AUSTIN BANK TEXAS
401 MAIN ST
RUSK, TX 75785
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
3541 - Machine Tools, Metal Cutting Types
NAICS Code
333512 - Machine Tool Manufacturing
Loan Approval Date
3/3/2000
Loan Approval Gross Amount
$29,000
Loan Approval from the SBA
Of the total $29,000 loan amount, the SBA guaranteed $23,200.
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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Austin Bank Texas 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:
Bank Credit Lines
SBA Approved Banks in Rusk, Texas
Texas SBA 7A Lenders