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May 3, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Louis Park, Business Loans > Citizens Independent Bank Saint Louis Park Business Loans > Surgical And Medical Instrument Manufacturing Loan | ||||
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What Does It Take to Get a Business Loan in Orono, Minnesota?
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Raising Money for Surgical and Medical Instrument ManufacturingLooking for business loans for surgical and medical instrument manufacturing? Talk to a banker who works with the SBA. This $55,200 surgical and medical instrument manufacturing loan was issued by a Minnesota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Orono, Minnesota was able to borrow $55,200 from Citizens Independent Bank. The SBA made the loan possible by guaranteeing $27,600 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: SURGICAL AND MEDICAL INSTRUMENT MANUFACTURING SBA Loan Lender CITIZENS INDEPENDENT BANK 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 339112 - Surgical and Medical Instrument Manufacturing Loan Approval Date 8/4/2004 Loan Approval Gross Amount $55,200 Loan Approval from the SBA Of the total $55,200 loan amount, the SBA guaranteed $27,600. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens Independent Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens Independent Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Best Banks for Small Business in Saint Louis Park, Minnesota Find an SBA Lender in Minnesota
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