How to Get a Loan for Surgical Appliance and Supplies Manufacturing

Looking for business loans for surgical appliance and supplies manufacturing? An SBA loan may be just what you've been looking for. This $450,000 surgical appliance and supplies manufacturing loan was issued by a Minnesota bank.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Associated Bank, out of Minneapolis, Minnesota. The loan was granted and they received $450,000 to help grow their Eagan, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: SURGICAL AND MEDICAL INSTRUMENTS AND APPARATUS
EAGAN, MN 55121

SBA Loan Lender

ASSOCIATED BANK
740 MARQUETTE AVE
MINNEAPOLIS, MN 55402

This lender issued this debt financing under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3841 - Surgical and Medical Instruments and Apparatus

NAICS Code

339113 - Surgical Appliance and Supplies Manufacturing

Loan Approval Date

3/20/2001

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $337,500.

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 25 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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