Getting an SBA Loan for Health Practitioners

Looking for SBA loans for health practitioners? Talk to a banker who works with the SBA. This $72,000 health practitioners loan was issued by a Rhode Island bank.

This business knew how to go about getting a business bank loan. Based in Old Lyme, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Rbs Citizens, based in Cranston, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: HEALTH PRACTITIONER OFFICE OR CLINIC
OLD LYME, CT 06371

SBA Loan Lender

RBS CITIZENS
85 SOCKANOSSET CROSS RD
CRANSTON, RI 02920

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8049 - Health Practitioner Office or Clinic

NAICS Code

621399 - Health Practitioners

Loan Approval Date

11/17/2003

Loan Approval Gross Amount

$72,000

Loan Approval from the SBA

Of the total $72,000 loan amount, the SBA guaranteed $61,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business in Old Lyme CT, you ought to talk with a local Old Lyme SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Old Lyme businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Rbs Citizens and they will explain how you can get an SBA loan for your company.

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:

How to Raise Money

SBA Approved Banks in Cranston, Rhode Island

Getting an SBA Loan in Rhode Island