Small Business Loan

Small Business Loan Options for Manufacturers, Medical Practices and Institutions

As the Small Business Administration adapts its guidelines for the maximum amount of employees allowed to qualify, many mid-sized and large institutions are finding that they fit the bill. For example, manufacturing businesses can have over 500 employees and still qualify for SBA financing. If you haven’t checked out the possibility of getting a small business loan for your institution, now is the best time. Here are some of the qualifying types of companies:

  • Construction companies
  • Manufacturing businesses
  • Health care businesses
  • Social assistance companies
  • Insurance companies
  • Data and technology providers
  • Niche businesses
  • Retail businesses

If your institution fits one of these categories or another one, such as hospitality, automotive repair or service businesses, you should apply for SBA financing. This type of loan offers low interest rates and plenty of time for repayment. It can help you grow your business in exciting new ways.

What Other Requirements Are There?

The main consideration is qualifying as a small business according to the SBA definition. This involves maximums of employee size and annual profits, depending on the industry your business belongs to. Other financial requirements are generally easy for manufacturers, healthcare businesses and other institutions to meet, such as solid cash flow, reasonable credit and sufficient time in business. There’s a good chance your institution has been operating for more than two years, which makes the entire process much smoother.

How Can Institutions Use a Small Business Loan?

The possibilities for business growth are immense when it comes to institutions. Have you been waiting for the right moment to purchase an expensive piece of diagnostic equipment, heavy machinery, construction equipment or medical equipment? In that case, an SBA loan is the perfect solution.

You can also use SBA financing for real estate. Do you want to build a storage warehouse, expand production with additional lines, open a new research and development area or remodel your office? Our small business loans can accommodate all of these needs and more. Find out if you qualify right away.