Financing for Biological Product Manufacturing

Looking for loans for biological product manufacturing? The SBA may be the answer. This $75,000 biological product manufacturing loan was issued by an Iowa bank.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Bankers Trust, out of Cedar Rapids, Iowa. The loan was granted and they received $75,000 to help grow their Cedar Rapids, Iowa business.

SBA Loan Borrower

COMPANY TYPE: BIOLOGICAL PRODUCTS
CEDAR RAPIDS, IA 52401

SBA Loan Lender

BANKERS TRUST
221 THIRD AVE SE, STE 150
CEDAR RAPIDS, IA 52401

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2836 - Biological Products

NAICS Code

325414 - Biological Product Manufacturing

Loan Approval Date

3/8/2006

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $67,500.

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 10 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

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 Bankers Trust 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.

Related Links:

The Friends and Family Network

Where to Get an SBA Loan in Cedar Rapids, Iowa

SBA Iowa Banks