Financing for Chiropractors

With these commercial loans for chiropractors, the SBA guarantees the lender that the loan will be repaid. This chiropractors loan for $95,800 was given to a Minnesota entrepreneur in 2004.

This small business knew how to go about getting a business bank loan. Based in Lamberton, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Bank Of The West, based in Fargo, North Dakota.

SBA Loan Borrower

COMPANY TYPE: CHIROPRACTORS
LAMBERTON, MN 56152

SBA Loan Lender

BANK OF THE WEST
520 MAIN AVE
FARGO, ND 58124

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

621310 - Chiropractors

Loan Approval Date

2/2/2004

Loan Approval Gross Amount

$95,800

Loan Approval from the SBA

Of the total $95,800 loan amount, the SBA guaranteed $81,430.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to add employees or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of The West and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Direct Public Offerings

SBA 7A Lenders in Fargo, North Dakota

Getting a Business Loan in North Dakota