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November 21, 2024  
 
 
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Small Business Banks for Salt Lake City Entrepreneurs

 

 
Loan Census SBA Loan Info

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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