How to Get a Loan for Home Health Care Services

Looking for commercial loans for home health care services? Talk to a banker who works with the SBA. This $50,000 home health care services loan was issued by a Maine bank.

This small business knew how to go about getting a business bank loan. Based in Oxford, Maine, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Norway Savings Bank, based in Norway, Maine.

SBA Loan Borrower

COMPANY TYPE: HOME HEALTH CARE SERVICES
OXFORD, ME 04270

SBA Loan Lender

NORWAY SAVINGS BANK
261 MAIN ST
NORWAY, ME 04268

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

8082 - Home Health Care Services

NAICS Code

621610 - Home Health Care Services

Loan Approval Date

7/3/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 3 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Norway Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Norway Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Role of Business Plan When Raising Money

Small Business Banks in Norway, Maine

SBA Lenders in Maine