How to Get a Loan for Physicians

With these SBA loans for physicians, the SBA guarantees the lender that the loan will be repaid. This physicians loan for $30,000 was given to an Indiana entrepreneur in 2007.

This small business knew how to go about getting a business bank loan. Based in South Bend, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was 1st Source Bank, based in South Bend, Indiana.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
SOUTH BEND, IN 46601

SBA Loan Lender

1ST SOURCE BANK
100 N MICHIGAN ST
SOUTH BEND, IN 46601

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

621111 - Physicians

Loan Approval Date

3/7/2007

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 8 employees. The loan application indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start business in South Bend IN, you ought to talk with a local South Bend SBA lender or talk with an out-of-area SBA lender that has previously loaned money to South Bend businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Small Business Credit Cards

Banks in South Bend, Indiana

SBA Participating Banks in Indiana