Financing for Surgical Appliance and Supplies Manufacturing

With these loans for surgical appliance and supplies manufacturing, the SBA guarantees the lender that the loan will be repaid. This surgical appliance and supplies manufacturing loan for $125,000 was given to a Minnesota entrepreneur in 2002.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Anchor Bank, out of Wayzata, Minnesota. The loan was granted and they received $125,000 to help grow their Bloomington, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: ORTHOPEDIC, PROSTHETIC AND OTHER SURGICAL SUPPLIES
BLOOMINGTON, MN 55431

SBA Loan Lender

ANCHOR BANK
1055 E WAYZATA BLVD EAST
WAYZATA, MN 55391

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.

SIC Code

3842 - Orthopedic, Prosthetic and Other Surgical Supplies

NAICS Code

339113 - Surgical Appliance and Supplies Manufacturing

Loan Approval Date

4/3/2002

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

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 13 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Anchor Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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SBA 7A Lenders in Wayzata, Minnesota

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