Raising Money for Optometrists

With these business loans for optometrists, the SBA guarantees the lender that the loan will be repaid. This optometrists loan for $350,000 was given to a Washington entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Newcastle, Washington was able to borrow $350,000 from Banner Bank. The SBA made the loan possible by guaranteeing $262,500 of this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: OPTOMETRISTS
NEWCASTLE, WA 98059

SBA Loan Lender

BANNER BANK
3005 112TH AVE NE, STE 100
BELLEVUE, WA 98004

At the time this loan was granted, the lender participated in the SBA's Certified Lenders Program (CLP). This program was created to offer speedy 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.

NAICS Code

621320 - Optometrists

Loan Approval Date

8/18/2006

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

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.

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