Bank Loans for Physicians, Mental Health Specialists
With these bank loans for physicians, mental health specialists, the SBA guarantees the lender that the loan will be repaid. This physicians, mental health specialists loan for $561,500 was given to a Florida entrepreneur in 2004.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Miami, Florida was able to borrow $561,500 from Wachovia Sba Lending, Inc.. The SBA made the loan possible by guaranteeing $421,125 of this Florida small business loan.
SBA Loan Borrower
COMPANY TYPE: PHYSICIANS, MENTAL HEALTH SPECIALISTS
MIAMI, FL 33183
SBA Loan Lender
WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
621112 - Physicians, Mental Health Specialists
Loan Approval Date
11/23/2004
Loan Approval Gross Amount
$561,500
Loan Approval from the SBA
Of the total $561,500 loan amount, the SBA guaranteed $421,125.
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 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Many small businesses receive loans backed by the U.S. Small Business Administration.
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 Wachovia Sba Lending, Inc. 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.
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