Where to Get Capital for Dentists

Looking for small business loans for dentists? Talk to a banker who works with the SBA. This $811,500 dentists loan was issued by an Ohio bank.

This company knew how to go about getting a business bank loan. Based in Indianapolis, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was The Huntington National Bank, based in Columbus, Ohio.

SBA Loan Borrower

COMPANY TYPE: DENTISTS
Indianapolis, IN 46220

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

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

621210 - Dentists

Loan Approval Date

11/2/2007

Loan Approval Gross Amount

$811,500

Loan Approval from the SBA

Of the total $811,500 loan amount, the SBA guaranteed $608,625.

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 13 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 13 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Indianapolis IN, you ought to talk with a local Indianapolis SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Indianapolis 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:

Microlending as a Small Business Funding Source

SBA Banks in Columbus, Ohio

Getting an SBA Loan in Ohio