Burton Industries, Inc.
Burton Industries, Inc. of Mentor, Ohio is a machine tool manufacturer in the NAICS 333517 industry. The company financed real estate or equipment through an SBA 504 loan of $2,584,000, with an approval date of January 22, 2024, and the loan was processed through Growth Capital Corp. with The Farmers National Bank of Canfield as the bank partner.
SBA 504 loan, approved Jan 22, 2024
$2,584,000 SBA portionCDC: Growth Capital Corp.10 years termApproved, not yet fundedLoan details
- SBA (CDC) portion
- $2,584,000
- Bank portion
- $3,300,000
- Estimated project size
- $6,537,778 (estimated)
- Estimated owner equity
- $653,778 (estimated, about 10% of the project)
- Bank lender
- The Farmers National Bank of Canfield, Canfield, OH
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 10 years (120 months)
- Estimated maturity
- January 22, 2034 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Jobs supported
- 60
- Business type
- Corporation
- NAICS
- 333517, Machine Tool Manufacturing
- Project location
- Lake County, OH
- SBA district office
- Columbus District Office
- Congressional district
- OH-14
- Collateral
- Yes
Estimated share of project by source
Bank 50% SBA (CDC) 40% Owner 10%
- Average expansion loan in Machine Tool Manufacturing: $2,329,000.
- Average expansion loan in Ohio: $2,096,556.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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