How to Get a Loan for Physicians
Looking for commercial loans for physicians? The SBA may be the answer. This $1,197,500 physicians loan was issued by a California bank.
This small business knew how to go about getting a business bank loan. Based in Mesa, Arizona, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Wescom Central Cu, based in San Diego, California.
SBA Loan Borrower
COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE
MESA, AZ 85203
SBA Loan Lender
WESCOM CENTRAL CU
1501 5TH AVE, STE 100
SAN DIEGO, CA 92101
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
8011 - Offices and Clinics of Doctors of Medicine
NAICS Code
621111 - Physicians
Loan Approval Date
10/6/2006
Loan Approval Gross Amount
$1,197,500
Loan Approval from the SBA
Of the total $1,197,500 loan amount, the SBA guaranteed $898,125.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 12 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
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.
While you may be able to find other ways to get money to start a business, 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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