Financing for Physical, Occupational and Speech Therapists, and Audiologists

With these commercial loans for physical, occupational and speech therapists, and audiologists, the SBA guarantees the lender that the loan will be repaid. This physical, occupational and speech therapists, and audiologists loan for $359,000 was given to a New York entrepreneur in 2007.

This business knew how to go about getting a business bank loan. Based in Rego Park, New York, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was New York Business Devel Corp, based in Albany, New York.

SBA Loan Borrower

COMPANY TYPE: PHYSICAL, OCCUPATIONAL AND SPEECH THERAPISTS, AND AUDIOLOGISTS
REGO PARK, NY 11374

SBA Loan Lender

NEW YORK BUSINESS DEVEL CORP
50 BEAVER STREET, P.O. BOX 73
ALBANY, NY 12201

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621340 - Physical, Occupational and Speech Therapists, and Audiologists

Loan Approval Date

5/24/2007

Loan Approval Gross Amount

$359,000

Loan Approval from the SBA

Of the total $359,000 loan amount, the SBA guaranteed $269,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 25 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 15 existing jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like New York Business Devel Corp that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Getting a Small Business Loan

Best Banks for Small Business in Albany, New York

Getting an SBA Loan in New York