Business Loans for Dentists

With these business loans for dentists, the SBA guarantees the lender that the loan will be repaid. This dentists loan for $481,560 was given to a Minnesota entrepreneur in 2004.

Getting a small business loan in Cottage Grove, Minnesota was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Gateway Bank, operating out of Mendota Heights, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: DENTISTS
COTTAGE GROVE, MN 55016

SBA Loan Lender

GATEWAY BANK
745 MARKET ST
MENDOTA HEIGHTS, MN 55118

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621210 - Dentists

Loan Approval Date

10/5/2004

Loan Approval Gross Amount

$481,560

Loan Approval from the SBA

Of the total $481,560 loan amount, the SBA guaranteed $361,170.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Gateway Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Obtaining Funding - Friends and Family

Small Bank Loans in Mendota Heights, Minnesota

Minnesota SBA 7A Lenders