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November 22, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Norwood, Business Loans > Rbs Citizens Norwood Business Loans > Physical, Occupational And Speech Therapists, And Audiologists Loan | ||||
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Rbs Citizens SBA 7A Loans
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How to Get a Loan for Physical, Occupational and Speech Therapists, and AudiologistsLooking for business loans for physical, occupational and speech therapists, and audiologists? Talk to a banker who works with the SBA. This $5,000 physical, occupational and speech therapists, and audiologists loan was issued by a Massachusetts bank. This small business knew how to go about getting a business bank loan. Based in Needham, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Rbs Citizens, based in Norwood, Massachusetts. SBA Loan Borrower COMPANY TYPE: PHYSICAL, OCCUPATIONAL AND SPEECH THERAPISTS, AND AUDIOLOGISTS SBA Loan Lender RBS CITIZENS This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 621340 - Physical, Occupational and Speech Therapists, and Audiologists Loan Approval Date 7/17/2001 Loan Approval Gross Amount $5,000 Loan Approval from the SBA Of the total $5,000 loan amount, the SBA guaranteed $2,500. 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA 7A Lenders in Norwood, Massachusetts
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