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November 15, 2024  
 
 
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Who Can Get a Business Loan in Southlake, Texas?

 

 
Loan Census SBA Loan Info

SBA Loans for Physicians

Looking for SBA loans for physicians? An SBA loan may be just what you've been looking for. This $50,000 physicians loan was issued by a Texas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Southlake, Texas was able to borrow $50,000 from Compass Bank. The SBA made the loan possible by guaranteeing $42,500 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
SOUTHLAKE, TX 76092

SBA Loan Lender

COMPASS BANK
1205 S MAIN
GRAPEVINE, TX 76051

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621111 - Physicians

Loan Approval Date

12/13/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Compass Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Role of Business Plan When Raising Money

SBA Approved Banks in Grapevine, Texas

SBA Lenders in Texas