Financing for Physicians

Looking for commercial loans for physicians? The SBA may be the answer. This $30,000 physicians loan was issued by a New York bank.

This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with M&t Bank, National Association, out of Oakfield, New York. The loan was granted and they received $30,000 to help grow their Buffalo, New York business.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE
BUFFALO, NY 14214

SBA Loan Lender

M&T BANK, NATIONAL ASSOCIATION
48 MAIN ST
OAKFIELD, NY 14125

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.

SIC Code

8011 - Offices and Clinics of Doctors of Medicine

NAICS Code

621111 - Physicians

Loan Approval Date

1/29/2001

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

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 3 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. M&t Bank, National Association had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, M&t Bank, National Association 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.

Related Links:

Microlending as a Small Business Funding Source

Who Lends Money to Small Businesses in Oakfield, New York

Getting an SBA Loan in New York