Borrowing Money for Physicians

Looking for bank loans for physicians? An SBA loan may be just what you've been looking for. This $81,000 physicians loan was issued by a Mississippi bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Prairieville, Louisiana was able to borrow $81,000 from Hancock Bank. The SBA made the loan possible by guaranteeing $40,500 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
PRAIRIEVILLE, LA 70769

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

621111 - Physicians

Loan Approval Date

3/1/2005

Loan Approval Gross Amount

$81,000

Loan Approval from the SBA

Of the total $81,000 loan amount, the SBA guaranteed $40,500.

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. The loan application indicated that the loan would help generate 5 new jobs and retain 2 existing jobs.

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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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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