Small Business Loans for Electromedical and Electrotherapeutic Apparatus Manufacturing

With these small business loans for electromedical and electrotherapeutic apparatus manufacturing, the SBA guarantees the lender that the loan will be repaid. This electromedical and electrotherapeutic apparatus manufacturing loan for $60,000 was given to an Arkansas entrepreneur in 2004.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Metropolitan National Bank, out of Little Rock, Arkansas. The loan was granted and they received $60,000 to help grow their North Little Rock, Arkansas business.

SBA Loan Borrower

COMPANY TYPE: ELECTROMEDICAL AND ELECTROTHERAPEUTIC APPARATUS MANUFACTURING
NORTH LITTLE ROCK, AR 72116

SBA Loan Lender

METROPOLITAN NATIONAL BANK
425 W CAPITOL AVE
LITTLE ROCK, AR 72201

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

334510 - Electromedical and Electrotherapeutic Apparatus Manufacturing

Loan Approval Date

2/9/2004

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Accountant's Role in Securing Financing

Banks in Little Rock, Arkansas

SBA Participating Banks in Arkansas