SBA Loan from First Savings Bank Helps Physicians Company

An SBA loan from First Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an El Paso, Texas business owner got a $670,900 loan.

This growing company knew how to go about getting a business bank loan. Based in El Paso, Texas, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was First Savings Bank, based in Beresford, South Dakota.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
EL PASO, TX 79936

SBA Loan Lender

FIRST SAVINGS BANK
201 N 3RD ST
BERESFORD, SD 57004

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621111 - Physicians

Loan Approval Date

9/21/2005

Loan Approval Gross Amount

$670,900

Loan Approval from the SBA

Of the total $670,900 loan amount, the SBA guaranteed $503,175.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Savings Bank and they will explain how you can get an SBA loan for your company.

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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