Irradiation Apparatus Manufacturing Bank Loans

Looking for bank loans for irradiation apparatus manufacturing? Try the SBA. This $500,000 irradiation apparatus manufacturing loan was issued by a Massachusetts bank.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Eastern Bank, out of Malden, Massachusetts. The loan was granted and they received $500,000 to help grow their Cambridge, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: ELECTROMEDICAL AND ELECTROTHERAPEUTIC APPARATUS
CAMBRIDGE, MA 02141

SBA Loan Lender

EASTERN BANK
94 PLEASANT ST
MALDEN, MA 02148

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

3845 - Electromedical and Electrotherapeutic Apparatus

NAICS Code

334517 - Irradiation Apparatus Manufacturing

Loan Approval Date

5/25/2001

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $450,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 27 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Eastern Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Eastern Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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SBA Banks in Malden, Massachusetts

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