Borrowing Money for Surgical and Medical Instrument Manufacturing
With these small business 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 $164,000 was given to an Utah entrepreneur in 2003.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Salt Lake City, Utah was able to borrow $164,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $123,000 of this Utah small business loan.
SBA Loan Borrower
COMPANY TYPE: SURGICAL AND MEDICAL INSTRUMENT MANUFACTURING
SALT LAKE CITY, UT 80126
SBA Loan Lender
WELLS FARGO BANK
100 W WASHINGTON ST
PHOENIX, AZ 85003
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
339112 - Surgical and Medical Instrument Manufacturing
Loan Approval Date
5/2/2003
Loan Approval Gross Amount
$164,000
Loan Approval from the SBA
Of the total $164,000 loan amount, the SBA guaranteed $123,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 29 employees. The loan application indicated that the loan would help generate 1 new job and retain 29 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Wells Fargo Bank and they will explain how you can get an SBA loan for your company.
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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