Loans for Chiropractors

With these loans for chiropractors, the SBA guarantees the lender that the loan will be repaid. This chiropractors loan for $105,000 was given to a Massachusetts entrepreneur in 2003.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Florence Savings Bank, out of Florence, Massachusetts. The loan was granted and they received $105,000 to help grow their Amherst, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF CHIROPRACTORS
AMHERST, MA 01002

SBA Loan Lender

FLORENCE SAVINGS BANK
85 MAIN ST
FLORENCE, MA 01062

This lender issued this particular business 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

8041 - Offices and Clinics of Chiropractors

NAICS Code

621310 - Chiropractors

Loan Approval Date

7/30/2003

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in Amherst MA, you ought to talk with a local Amherst SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Amherst businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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