Commercial Loans for Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers
Looking for commercial loans for medical, dental, and hospital equipment and supplies merchant wholesalers? Talk to a banker who works with the SBA. This $50,000 medical, dental, and hospital equipment and supplies merchant wholesalers loan was issued by a Michigan bank.
Getting a small business loan in Waterford, Michigan was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Lasalle Bank Midwest, operating out of Lansing, Michigan. Here are the details on this Michigan small business loan.
SBA Loan Borrower
COMPANY TYPE: MEDICAL, DENTAL, AND HOSPITAL EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS
WATERFORD, MI 48328
SBA Loan Lender
LASALLE BANK MIDWEST
124 W ALLEGAN
LANSING, MI 48933
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
423450 - Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers
Loan Approval Date
5/9/2003
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
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 2 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 2 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide money to small business owners for working capital for other expenses.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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
Where to Get an SBA Loan in Lansing, Michigan
Browse All Business Loan Sources for Michigan