How to Get a Loan for Physicians

With these business loans for physicians, the SBA guarantees the lender that the loan will be repaid. This physicians loan for $897,000 was given to an Oklahoma entrepreneur in 2000.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Stillwater National Bank & Trust, out of Stillwater, Oklahoma. The loan was granted and they received $897,000 to help grow their Seminole, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE
SEMINOLE, OK 74868

SBA Loan Lender

STILLWATER NATIONAL BANK & TRUST
608 S MAIN
STILLWATER, OK 74074

This small business loan was underwritten by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA delivers a quick answer on whether the loan qualifies.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8011 - Offices and Clinics of Doctors of Medicine

NAICS Code

621111 - Physicians

Loan Approval Date

11/2/2000

Loan Approval Gross Amount

$897,000

Loan Approval from the SBA

Of the total $897,000 loan amount, the SBA guaranteed $672,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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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