Financing for Ambulatory Health Care Services

With these commercial loans for ambulatory health care services, the SBA guarantees the lender that the loan will be repaid. This ambulatory health care services loan for $770,500 was given to a Minnesota entrepreneur in 2000.

This business knew how to go about getting a business bank loan. Based in Minneapolis, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Wells Fargo Bank, based in Minneapolis, Minnesota.

SBA Loan Borrower

COMPANY TYPE: HEALTH AND ALLIED SERVICES
MINNEAPOLIS, MN 55401

SBA Loan Lender

WELLS FARGO BANK
1455 W LAKE ST
MINNEAPOLIS, MN 55408

At the time this loan was granted, this bank participated in the SBA's Certified Lenders Program (CLP). This program is designed to offer expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8099 - Health and Allied Services

NAICS Code

621999 - Ambulatory Health Care Services

Loan Approval Date

3/1/2000

Loan Approval Gross Amount

$770,500

Loan Approval from the SBA

Of the total $770,500 loan amount, the SBA guaranteed $577,875.

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 13 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

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 Wells Fargo Bank 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.

Related Links:

Microlending as a Small Business Funding Source

SBA Banks in Minneapolis, Minnesota

Minnesota SBA Banks