Raising Money for Dentists

Looking for business loans for dentists? The SBA may be the answer. This $207,500 dentists loan was issued by an Iowa bank.

This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Hills Bank And Trust Company, out of Hills, Iowa. The loan was granted and they received $207,500 to help grow their Cedar Rapids, Iowa business.

SBA Loan Borrower

COMPANY TYPE: DENTISTS
CEDAR RAPIDS, IA 52402

SBA Loan Lender

HILLS BANK AND TRUST COMPANY
131 MAIN
HILLS, IA 52235

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

621210 - Dentists

Loan Approval Date

1/24/2007

Loan Approval Gross Amount

$207,500

Loan Approval from the SBA

Of the total $207,500 loan amount, the SBA guaranteed $103,750.

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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small 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 Hills Bank And Trust Company 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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