 |
 |
November 15, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Vineland, Business Loans > Sun National Bank Vineland Business Loans > Offices And Clinics Of Doctors Of Medicine Loan | ||||
 |
||||
SBA Lenders in New Jersey
|
||||
 |
Financing for PhysiciansWith these loans for physicians, the SBA guarantees the lender that the loan will be repaid. This physicians loan for $120,000 was given to a New Jersey entrepreneur in 2002. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hammonton, New Jersey was able to borrow $120,000 from Sun National Bank. The SBA made the loan possible by guaranteeing $102,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE SBA Loan Lender SUN NATIONAL BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. 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 6/21/2002 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. 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 only one employee. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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. Related Links:
|
|
||
|
||||
|
|
||||