Commercial Loans for Dentists

With these commercial loans for dentists, the SBA guarantees the lender that the loan will be repaid. This dentists loan for $1,494,000 was given to a Florida entrepreneur in 2005.

This business knew how to go about getting a business bank loan. Based in Cooper City, Florida, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was 1st United Bank, based in Boca Raton, Florida.

SBA Loan Borrower

COMPANY TYPE: DENTISTS
COOPER CITY, FL 33024

SBA Loan Lender

1ST UNITED BANK
ONE NORTH FEDERAL HWY
BOCA RATON, FL 33432

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621210 - Dentists

Loan Approval Date

4/21/2005

Loan Approval Gross Amount

$1,494,000

Loan Approval from the SBA

Of the total $1,494,000 loan amount, the SBA guaranteed $975,701.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the loan would help generate 9 new jobs and retain 7 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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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