Get an SBA Loan for Surgical and Medical Instrument Manufacturing

With these bank loans for surgical and medical instrument manufacturing, the SBA guarantees the lender that the loan will be repaid. This surgical and medical instrument manufacturing loan for $900,000 was given to a Minnesota entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rogers, Minnesota was able to borrow $900,000 from Riverview Community Bank. The SBA made the loan possible by guaranteeing $675,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: SURGICAL AND MEDICAL INSTRUMENT MANUFACTURING
ROGERS, MN 55374

SBA Loan Lender

RIVERVIEW COMMUNITY BANK
9040 QUADAY AVE NE
OTSEGO, MN 55330

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339112 - Surgical and Medical Instrument Manufacturing

Loan Approval Date

7/23/2003

Loan Approval Gross Amount

$900,000

Loan Approval from the SBA

Of the total $900,000 loan amount, the SBA guaranteed $675,000.

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 45 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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:

Financing Your Business

SBA Participating Banks in Otsego, Minnesota

SBA Minnesota Lenders