How to Get a Loan for Surgical and Medical Instrument Manufacturing

With these SBA loans for surgical and medical instrument manufacturing, the SBA guarantees the lender that the loan will be repaid. This surgical and medical instrument manufacturing loan for $100,000 was given to a Florida entrepreneur in 2001.

Alternative Biomedical Service received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Regions Bank, out of Memphis, Tennessee. The loan was granted and they received $100,000 to help grow their Miami, Florida business.

SBA Loan Borrower

ALTERNATIVE BIOMEDICAL SERVICE
2326 WEST 78TH ST.
MIAMI, FL 33016

SBA Loan Lender

REGIONS BANK
6200 POPLAR AVE
MEMPHIS, TN 38119

The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

1/4/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower, Alternative Biomedical Service, 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 6 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 6 existing jobs. This loan was paid in full, and was closed out on 3/26/2004.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 Alternative Biomedical Service did when it applied for and received this $100,000 loan. Remember, anyone can do it... so why not you?

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Small Business Credit Cards

Small Business Banks in Memphis, Tennessee

Getting an SBA Loan in Tennessee

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