Borrowing Money for Chiropractors

Looking for loans for chiropractors? The SBA may be the answer. This $90,000 chiropractors loan was issued by a Minnesota bank.

This small firm knew how to go about getting a business bank loan. Based in Andover, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was 1st National Bank - Elk River, based in Anoka, Minnesota.

SBA Loan Borrower

COMPANY TYPE: CHIROPRACTORS
ANDOVER, MN 55304

SBA Loan Lender

1ST NATIONAL BANK - ELK RIVER
1121 W HWY 10
ANOKA, MN 55303

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621310 - Chiropractors

Loan Approval Date

6/22/2004

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Andover MN, you ought to talk with a local Andover SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Andover businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. 1st National Bank - Elk River had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, 1st National Bank - Elk River made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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