Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Business Loans for West Hartford Entrepreneurs

 

 
Loan Census SBA Loan Info

Getting an SBA Loan for Iron and Steel Pipe and Tube Manufacturing from Purchased Steel

Looking for commercial loans for iron and steel pipe and tube manufacturing from purchased steel? Talk to a banker who works with the SBA. This $100,000 iron and steel pipe and tube manufacturing from purchased steel loan was issued by a Massachusetts bank.

Getting a small business loan in West Hartford, Connecticut was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Sovereign Bank, operating out of Dorchester, Massachusetts. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: IRON AND STEEL PIPE AND TUBE MANUFACTURING FROM PURCHASED STEEL
WEST HARTFORD, CT 06110

SBA Loan Lender

SOVEREIGN BANK
2 MORRISEY BLVD
DORCHESTER, MA 02125

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

331210 - Iron and Steel Pipe and Tube Manufacturing from Purchased Steel

Loan Approval Date

12/15/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 13 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 15 existing jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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 Cash Advances

Best Dorchester, Massachusetts Banks for Small Business

Find an SBA Lender in Massachusetts