Getting an SBA Loan for Physical, Occupational and Speech Therapists, and Audiologists

Looking for SBA loans for physical, occupational and speech therapists, and audiologists? Talk to a banker who works with the SBA. This $50,000 physical, occupational and speech therapists, and audiologists loan was issued by a Michigan bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First Place Bank, out of Southfield, Michigan. The loan was granted and they received $50,000 to help grow their Roseville, Michigan business.

SBA Loan Borrower

COMPANY TYPE: PHYSICAL, OCCUPATIONAL AND SPEECH THERAPISTS, AND AUDIOLOGISTS
ROSEVILLE, MI 48066

SBA Loan Lender

FIRST PLACE BANK
24725 W 12 MILE RD
SOUTHFIELD, MI 48034

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

621340 - Physical, Occupational and Speech Therapists, and Audiologists

Loan Approval Date

7/31/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 9 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 9 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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

Related Links:

Startup Funding Tip

Where to Get an SBA Loan in Southfield, Michigan

SBA Lenders in Michigan