Getting an SBA Loan for Chiropractors

With these commercial loans for chiropractors, the SBA guarantees the lender that the loan will be repaid. This chiropractors loan for $89,500 was given to an Illinois entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mount Carmel, Illinois was able to borrow $89,500 from First National Bank. The SBA made the loan possible by guaranteeing $76,075 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF CHIROPRACTORS
MOUNT CARMEL, IL 62863

SBA Loan Lender

FIRST NATIONAL BANK
1515 W 9TH ST
MOUNT CARMEL, IL 62863

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8041 - Offices and Clinics of Chiropractors

NAICS Code

621310 - Chiropractors

Loan Approval Date

9/20/2001

Loan Approval Gross Amount

$89,500

Loan Approval from the SBA

Of the total $89,500 loan amount, the SBA guaranteed $76,075.

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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

We've showcased information on this loan to let you know that businesses like yours 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.

Related Links:

Investor Turnoffs

Where to Get an SBA Loan in Mount Carmel, Illinois

SBA Participating Banks in Illinois