Raising Money for Physicians

Looking for business loans for physicians? The SBA may be the answer. This $271,600 physicians loan was issued by a Pennsylvania bank.

This small business knew how to go about getting a business bank loan. Based in Middletown, Rhode Island, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Sovereign Bank, based in Wyomissing, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
MIDDLETOWN, RI 02842

SBA Loan Lender

SOVEREIGN BANK
1130 BERKSHIRE BLVD
WYOMISSING, PA 19610

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

621111 - Physicians

Loan Approval Date

7/31/2001

Loan Approval Gross Amount

$271,600

Loan Approval from the SBA

Of the total $271,600 loan amount, the SBA guaranteed $203,700.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 6 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Middletown RI, you ought to talk with a local Middletown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Middletown businesses.

We can help you find the best banks for small businesses in Middletown or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Advice on Getting a Small Business Loan

SBA Participating Banks in Wyomissing, Pennsylvania

Getting an SBA Loan in Pennsylvania