Business Loans for Dentists
With these business loans for dentists, the SBA guarantees the lender that the loan will be repaid. This dentists loan for $1,075,000 was given to a Wisconsin entrepreneur in 2003.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Neenah, Wisconsin was able to borrow $1,075,000 from The Business Bank. The SBA made the loan possible by guaranteeing $806,250 of this Wisconsin small business loan.
SBA Loan Borrower
COMPANY TYPE: OFFICES AND CLINICS OF DENTISTS
NEENAH, WI 54956
SBA Loan Lender
THE BUSINESS BANK
5643 WATERFORD LN
APPLETON, WI 54912
This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
8021 - Offices and Clinics of Dentists
NAICS Code
621210 - Dentists
Loan Approval Date
5/19/2003
Loan Approval Gross Amount
$1,075,000
Loan Approval from the SBA
Of the total $1,075,000 loan amount, the SBA guaranteed $806,250.
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 6 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
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:
Business Cash Advances
Where to Get an SBA Loan in Appleton, Wisconsin
Wisconsin SBA 7A Banks