How to Get a Loan for Electromedical and Electrotherapeutic Apparatus Manufacturing

With these SBA 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 $200,000 was given to a Vermont entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Vergennes, Vermont was able to borrow $200,000 from National Bank Of Middlebury. The SBA made the loan possible by guaranteeing $150,000 of this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTROMEDICAL AND ELECTROTHERAPEUTIC APPARATUS MANUFACTURING
VERGENNES, VT 05753

SBA Loan Lender

NATIONAL BANK OF MIDDLEBURY
30-32 MAIN ST
MIDDLEBURY, VT 05753

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

334510 - Electromedical and Electrotherapeutic Apparatus Manufacturing

Loan Approval Date

3/25/2003

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 20 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to add employees 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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