Getting an SBA Loan for Physicians

With these SBA loans for physicians, the SBA guarantees the lender that the loan will be repaid. This physicians loan for $289,800 was given to a North Dakota entrepreneur in 2006.

Getting a small business loan in Bismarck, North Dakota was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Security 1st Bank - No. Dakota, operating out of Mandan, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE
BISMARCK, ND 58501

SBA Loan Lender

SECURITY 1ST BANK - NO. DAKOTA
614 W MAIN ST
MANDAN, ND 58554

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8011 - Offices and Clinics of Doctors of Medicine

NAICS Code

621111 - Physicians

Loan Approval Date

11/13/2006

Loan Approval Gross Amount

$289,800

Loan Approval from the SBA

Of the total $289,800 loan amount, the SBA guaranteed $217,350.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are working on finding money to start a business in Bismarck ND, you ought to talk with a local Bismarck SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bismarck businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Security 1st Bank - No. Dakota and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

Related Links:

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Small Bank Loans in Mandan, North Dakota

Getting a Business Loan in North Dakota