Physicians Small Business Loans

With these small business loans for physicians, the SBA guarantees the lender that the loan will be repaid. This physicians loan for $294,900 was given to a California entrepreneur in 2005.

This company knew how to go about getting a business bank loan. Based in Redding, California, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Redding Bank Of Commerce, based in Redding, California.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
REDDING, CA 96001

SBA Loan Lender

REDDING BANK OF COMMERCE
1951 CHURN CREEK RD
REDDING, CA 96002

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621111 - Physicians

Loan Approval Date

10/7/2005

Loan Approval Gross Amount

$294,900

Loan Approval from the SBA

Of the total $294,900 loan amount, the SBA guaranteed $221,175.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 19 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 10 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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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