Financing for Chiropractors

With these commercial loans for chiropractors, the SBA guarantees the lender that the loan will be repaid. This chiropractors loan for $65,700 was given to a North Carolina entrepreneur in 2001.

This small business knew how to go about getting a business bank loan. Based in Raleigh, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was The Fidelity Bank, based in Raleigh, North Carolina.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF CHIROPRACTORS
RALEIGH, NC 27615

SBA Loan Lender

THE FIDELITY BANK
5220 FALLS OF THE NEUSE RD
RALEIGH, NC 27609

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8041 - Offices and Clinics of Chiropractors

NAICS Code

621310 - Chiropractors

Loan Approval Date

5/9/2001

Loan Approval Gross Amount

$65,700

Loan Approval from the SBA

Of the total $65,700 loan amount, the SBA guaranteed $55,845.

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 3 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Fidelity Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Fidelity 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.

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