Financing for Physicians

Looking for commercial loans for physicians? The SBA may be the answer. This $100,000 physicians loan was issued by a Virginia bank.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Potomac Bank Of Virginia, out of Fairfax, Virginia. The loan was granted and they received $100,000 to help grow their Fairfax, Virginia business.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE
FAIRFAX, VA 22031

SBA Loan Lender

POTOMAC BANK OF VIRGINIA
9910 MAIN ST
FAIRFAX, VA 22031

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

8/27/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Potomac Bank Of Virginia had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Potomac Bank Of Virginia made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Direct Public Offerings

SBA 7A Banks in Fairfax, Virginia

Virginia SBA 7A Banks