Where to Get Capital for Physicians

Looking for SBA loans for physicians? An SBA loan may be just what you've been looking for. This $490,000 physicians loan was issued by a Michigan bank.

Getting a small business loan in Dearborn, Michigan was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Paramount Bank, operating out of Farmington Hills, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
DEARBORN, MI 48124

SBA Loan Lender

PARAMOUNT BANK
31000 NORTHWESTERN HWY, STE 2
FARMINGTON HILLS, MI 48334

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

621111 - Physicians

Loan Approval Date

7/15/2003

Loan Approval Gross Amount

$490,000

Loan Approval from the SBA

Of the total $490,000 loan amount, the SBA guaranteed $367,500.

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 10 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Paramount Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Business Line of Credit

Best Banks for Small Business in Farmington Hills, Michigan

Getting an SBA Loan in Michigan