Commercial Loans for Surgical and Medical Instrument Manufacturing

Looking for commercial loans for surgical and medical instrument manufacturing? Talk to a banker who works with the SBA. This $500,000 surgical and medical instrument manufacturing loan was issued by an Alabama bank.

This business knew how to go about getting a business bank loan. Based in Birmingham, Alabama, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Covenant Bank, based in Leeds, Alabama.

SBA Loan Borrower

COMPANY TYPE: SURGICAL AND MEDICAL INSTRUMENTS AND APPARATUS
BIRMINGHAM, AL 35217

SBA Loan Lender

COVENANT BANK
7908 PARKWAY DR
LEEDS, AL 35094

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3841 - Surgical and Medical Instruments and Apparatus

NAICS Code

339112 - Surgical and Medical Instrument Manufacturing

Loan Approval Date

1/15/2003

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 105 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

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Small Bank Loans in Leeds, Alabama

SBA Participating Banks in Alabama