Borrowing Money for Dentists
With these loans for dentists, the SBA guarantees the lender that the loan will be repaid. This dentists loan for $72,000 was given to an Arkansas entrepreneur in 2002.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jacksonville, Arkansas was able to borrow $72,000 from First State Bank. The SBA made the loan possible by guaranteeing $61,200 of this Arkansas small business loan.
SBA Loan Borrower
COMPANY TYPE: DENTISTS
JACKSONVILLE, AR 72076
SBA Loan Lender
FIRST STATE BANK
620 CHESTNUT ST
CONWAY, AR 72032
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
621210 - Dentists
Loan Approval Date
1/22/2002
Loan Approval Gross Amount
$72,000
Loan Approval from the SBA
Of the total $72,000 loan amount, the SBA guaranteed $61,200.
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. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First State Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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:
Business Incubators
SBA 7A Banks in Conway, Arkansas
Arkansas SBA 7A Lenders