Commercial Loans for Surgical Appliance and Supplies Manufacturing

With these commercial 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 $373,500 was given to a Minnesota entrepreneur in 2004.

Getting a small business loan in Hugo, Minnesota was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Bremer Bank, operating out of South Saint Paul, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: SURGICAL APPLIANCE AND SUPPLIES MANUFACTURING
HUGO, MN 55110

SBA Loan Lender

BREMER BANK
633 S CONCORD ST
SOUTH SAINT PAUL, MN 55075

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339113 - Surgical Appliance and Supplies Manufacturing

Loan Approval Date

3/19/2004

Loan Approval Gross Amount

$373,500

Loan Approval from the SBA

Of the total $373,500 loan amount, the SBA guaranteed $280,125.

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 9 employees. The loan application indicated that the loan would help retain 9 existing jobs.

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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