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May 18, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Otsego, Business Loans > Riverview Community Bank Otsego Business Loans > Surgical And Medical Instrument Manufacturing Loan | ||||
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Minnesota Bank SBA Loans
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Business Loan from Riverview Community Bank Given to Surgical And Medical Instrument Manufacturing CompanyRiverview Community Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Riverview Community Bank, out of Otsego, Minnesota. The loan was granted and they received $205,500 to help grow their Rogers, Minnesota business. SBA Loan Borrower COMPANY TYPE: SURGICAL AND MEDICAL INSTRUMENT MANUFACTURING SBA Loan Lender RIVERVIEW COMMUNITY BANK This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 339112 - Surgical and Medical Instrument Manufacturing Loan Approval Date 8/27/2003 Loan Approval Gross Amount $205,500 Loan Approval from the SBA Of the total $205,500 loan amount, the SBA guaranteed $154,125. 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 15 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Riverview Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Riverview Community 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 in Otsego, Minnesota
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