Borrowing Money for Dentists

With these bank loans for dentists, the SBA guarantees the lender that the loan will be repaid. This dentists loan for $45,000 was given to a Michigan entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lincoln Park, Michigan was able to borrow $45,000 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $22,500 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: DENTISTS
LINCOLN PARK, MI 48146

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
220 MARKET AVE SOUTH, UNITED
CANTON, OH 44702

The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

621210 - Dentists

Loan Approval Date

9/7/2004

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $22,500.

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. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Obtaining Funding From a Venture Capitalist

SBA Participating Banks in Canton, Ohio

Getting an SBA Loan in Ohio