Business Loan from Choice Bank Given to Chiropractors Company

Choice Bank has a track record as a leading provider of SBA loans. Find out how this Arizona entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Choice Bank, out of Scottsdale, Arizona. The loan was granted and they received $421,100 to help grow their Gilbert, Arizona business.

SBA Loan Borrower

COMPANY TYPE: CHIROPRACTORS
Gilbert, AZ 85296

SBA Loan Lender

CHOICE BANK
15190 N HAYDEN RD
SCOTTSDALE, AZ 85260

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621310 - Chiropractors

Loan Approval Date

5/9/2007

Loan Approval Gross Amount

$421,100

Loan Approval from the SBA

Of the total $421,100 loan amount, the SBA guaranteed $315,825.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business planned to use the funding to add employees or retain any existing employees.

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Choice Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Choice Bank 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:

VC Firms on Twitter

Best Banks in Scottsdale, Arizona

Browse All Business Loan Sources for Arizona