Financing for Podiatrists

Looking for commercial loans for podiatrists? The SBA may be the answer. This $20,000 podiatrists loan was issued by a Maryland bank.

This small business knew how to go about getting a business bank loan. Based in Glen Burnie, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Manufacturers & Traders Trust, based in Towson, Maryland.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF PODIATRISTS
GLEN BURNIE, MD 21061

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
405 WASHINGTON AVE
TOWSON, MD 21204

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8043 - Offices and Clinics of Podiatrists

NAICS Code

621391 - Podiatrists

Loan Approval Date

5/21/2002

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

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 only one employee. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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