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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Providence, Business Loans > Rbs Citizens Providence Business Loans > Physicians Loan | ||||
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Illinois Small Business Funding
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Where to Get Capital for PhysiciansWith these small business loans for physicians, the SBA guarantees the lender that the loan will be repaid. This physicians loan for $50,000 was given to an Illinois entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lockport, Illinois was able to borrow $50,000 from Rbs Citizens. The SBA made the loan possible by guaranteeing $25,000 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICIANS SBA Loan Lender RBS CITIZENS This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 621111 - Physicians Loan Approval Date 2/14/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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 Providence, Rhode Island
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