Borrowing Money for Physicians, Mental Health Specialists

Looking for loans for physicians, mental health specialists? The SBA may be the answer. This $85,000 physicians, mental health specialists loan was issued by a Texas bank.

This small firm knew how to go about getting a business bank loan. Based in Quanah, Texas, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First National Bank In Quanah, based in Quanah, Texas.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS, MENTAL HEALTH SPECIALISTS
QUANAH, TX 79252

SBA Loan Lender

FIRST NATIONAL BANK IN QUANAH
3RD & MERCER
QUANAH, TX 79252

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621112 - Physicians, Mental Health Specialists

Loan Approval Date

11/29/2004

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

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 7 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First National Bank In Quanah and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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Where to Get an SBA Loan in Quanah, Texas

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