Getting an SBA Loan for Biological Product Manufacturing

With these commercial loans for biological product manufacturing, the SBA guarantees the lender that the loan will be repaid. This biological product manufacturing loan for $150,000 was given to an Iowa entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Marion, Iowa was able to borrow $150,000 from Bankers Trust. The SBA made the loan possible by guaranteeing $135,000 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: BIOLOGICAL PRODUCT MANUFACTURING
MARION, IA 52302

SBA Loan Lender

BANKERS TRUST
221 THIRD AVE SE, STE 150
CEDAR RAPIDS, IA 52401

This lender issued this SBA bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

325414 - Biological Product Manufacturing

Loan Approval Date

2/2/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $135,000.

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 3 employees. The loan application did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, you control your own destiny.

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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