SBA Loan from Suntrust Bank Helps Offices And Clinics Of Doctors Of Medicine Company

Suntrust Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Georgia entrepreneur who tapped into the power of SBA loans.

This small firm knew how to go about getting a business bank loan. Based in Decatur, Georgia, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Suntrust Bank, based in Atlanta, Georgia.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE
DECATUR, GA 30030

SBA Loan Lender

SUNTRUST BANK
25 PARK PLACE NE
ATLANTA, GA 30303

This SBA loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending history and a thorough understanding of SBA lending rules and regulations.

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

8/29/2002

Loan Approval Gross Amount

$280,208

Loan Approval from the SBA

Of the total $280,208 loan amount, the SBA guaranteed $210,156.

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 5 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Suntrust Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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