Where to Get Capital for Surgical Appliance and Supplies Manufacturing
With these small business 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 $654,400 was given to a California entrepreneur in 2007.
This company knew how to go about getting a business bank loan. Based in San Jose, California, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Wells Fargo Bank, based in San Jose, California.
SBA Loan Borrower
COMPANY TYPE: SURGICAL APPLIANCE AND SUPPLIES MANUFACTURING
SAN JOSE, CA 95125
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
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
1/11/2007
Loan Approval Gross Amount
$654,400
Loan Approval from the SBA
Of the total $654,400 loan amount, the SBA guaranteed $490,800.
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 3 employees. The SBA loan documents indicated that the loan would help retain 3 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.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wells Fargo Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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:
Startup Funding Tip
SBA Banks in San Jose, California
California SBA Bank Lenders