Velocity Magnetics Inc.
200 Green Ridge Rd, New Castle, PA 16105 · Machine Tool Manufacturing (NAICS 333517)
Loan Summary
Source: SBA FOIA Loan-Level DataTotal Loans
2
Total Amount
$2.3M
Jobs Supported
30
Years Active
2021–2021
Loan History (2)
Source: SBA FOIA7(a)$700,000
Paid in Full
- Approved
- Jun 15, 2021 (FY2021)
- SBA Guaranteed
- $630,000 (90%)
- Term
- 132 months (11.0 yrs)
- Interest Rate
- 4.75%
- Revolver
- 0
- Jobs Supported
- 15
- Business Type
- Corporation
- Business Age
- Existing or More Than 2 Years Old
- Industry
- Machine Tool Manufacturing (NAICS 333517)
- Paid in Full
- Jan 31, 2023
Lender
First Commonwealth Bank
654 Philadelphia St, Indiana, PA 15701
Project Location
Lawrence County, PA
7(a)$1,586,400
Paid in Full
- Approved
- Apr 26, 2021 (FY2021)
- SBA Guaranteed
- $1,427,760 (90%)
- Term
- 120 months (10.0 yrs)
- Interest Rate
- 4.75%
- Revolver
- 0
- Jobs Supported
- 15
- Business Type
- Corporation
- Business Age
- Existing or More Than 2 Years Old
- Industry
- Motor and Generator Manufacturing (NAICS 335312)
- Paid in Full
- Jan 31, 2023
Lender
First Commonwealth Bank
654 Philadelphia St, Indiana, PA 15701
Project Location
Lawrence County, PA
Business Details
- Business Type
- Corporation
- Business Age
- Existing or More Than 2 Years Old
- NAICS Code
- 333517 — Machine Tool Manufacturing
- Address
- 200 Green Ridge Rd
New Castle, PA 16105
Lender
- First Commonwealth Bank
- 654 Philadelphia St, Indiana, PA 15701