Commercial Loans for Dentists

With these commercial loans for dentists, the SBA guarantees the lender that the loan will be repaid. This dentists loan for $75,000 was given to a Maryland entrepreneur in 2003.

Getting a small business loan in Smithsburg, Maryland was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Hagerstown Trust Company, operating out of Hagerstown, Maryland. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF DENTISTS
SMITHSBURG, MD 21783

SBA Loan Lender

HAGERSTOWN TRUST COMPANY
83 W WASHINGTON ST
HAGERSTOWN, MD 21740

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8021 - Offices and Clinics of Dentists

NAICS Code

621210 - Dentists

Loan Approval Date

9/24/2003

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $56,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Hagerstown Trust Company and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Accountant's Role in Securing Financing

SBA 7A Lenders in Hagerstown, Maryland

Getting a Business Loan in Maryland