Borrowing Money for Physicians

Looking for bank loans for physicians? Try the SBA. This $1,112,000 physicians loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lomita, California was able to borrow $1,112,000 from Mirae Bank. The SBA made the loan possible by guaranteeing $827,216 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
LOMITA, CA 90717

SBA Loan Lender

MIRAE BANK
3255 WILSHIRE BLVD, STE 1100
LOS ANGELES, CA 90010

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621111 - Physicians

Loan Approval Date

2/8/2006

Loan Approval Gross Amount

$1,112,000

Loan Approval from the SBA

Of the total $1,112,000 loan amount, the SBA guaranteed $827,216.

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 14 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 20 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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.

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