Getting an SBA Loan for Surgical and Medical Instrument Manufacturing

Looking for SBA loans for surgical and medical instrument manufacturing? The SBA may be the answer. This $100,000 surgical and medical instrument manufacturing loan was issued by a Massachusetts bank.

Getting a small business loan in Duxbury, Massachusetts was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Century Bank And Trust Company, operating out of Medford, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: SURGICAL AND MEDICAL INSTRUMENTS AND APPARATUS
DUXBURY, MA 02331

SBA Loan Lender

CENTURY BANK AND TRUST COMPANY
400 MYSTIC AVE
MEDFORD, MA 02155

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

12/21/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 3 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need business start up money in Duxbury MA, you ought to talk with a local Duxbury SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Duxbury businesses.

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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Small Bank Loans in Medford, Massachusetts

SBA Participating Banks in Massachusetts