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May 11, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Hudsonville, Business Loans > West Michigan Community Bank Hudsonville Business Loans > Surgical And Medical Instruments And Apparatus Loan | ||||
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Holland, Michigan Bank Loan
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Borrowing Money for Surgical and Medical Instrument ManufacturingLooking for bank loans for surgical and medical instrument manufacturing? Try the SBA. This $75,000 surgical and medical instrument manufacturing loan was issued by a Michigan bank. This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with West Michigan Community Bank, out of Hudsonville, Michigan. The loan was granted and they received $75,000 to help grow their Holland, Michigan business. SBA Loan Borrower COMPANY TYPE: SURGICAL AND MEDICAL INSTRUMENTS AND APPARATUS SBA Loan Lender WEST MICHIGAN COMMUNITY BANK This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3841 - Surgical and Medical Instruments and Apparatus NAICS Code 339112 - Surgical and Medical Instrument Manufacturing Loan Approval Date 7/25/2003 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like West Michigan Community Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Good Banks for Small Business in Hudsonville, Michigan
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