Medical, Dental, and Hospital Equipment and Supplies Wholesalers Business Loans

Looking for business loans for medical, dental, and hospital equipment and supplies wholesalers? Talk to a banker who works with the SBA. This $20,000 medical, dental, and hospital equipment and supplies wholesalers loan was issued by a Montana bank.

This small business knew how to go about getting a business bank loan. Based in Billings, Montana, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Western Security Bank, based in Billings, Montana.

SBA Loan Borrower

COMPANY TYPE: MEDICAL, DENTAL, AND HOSPITAL EQUIPMENT AND SUPPLIES WHOLESALERS
BILLINGS, MT 59102

SBA Loan Lender

WESTERN SECURITY BANK
2675 KING AVE
BILLINGS, MT 59102

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421450 - Medical, Dental, and Hospital Equipment and Supplies Wholesalers

Loan Approval Date

10/11/2002

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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