Financing for Home Health Care Services

Looking for commercial loans for home health care services? An SBA loan may be just what you've been looking for. This $61,500 home health care services loan was issued by a Virginia bank.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with First Bank, out of Strasburg, Virginia. The loan was granted and they received $61,500 to help grow their Strasburg, Virginia business.

SBA Loan Borrower

COMPANY TYPE: HOME HEALTH CARE SERVICES
STRASBURG, VA 22657

SBA Loan Lender

FIRST BANK
112 W KING ST
STRASBURG, VA 22657

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8082 - Home Health Care Services

NAICS Code

621610 - Home Health Care Services

Loan Approval Date

6/26/2000

Loan Approval Gross Amount

$61,500

Loan Approval from the SBA

Of the total $61,500 loan amount, the SBA guaranteed $49,200.

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 3 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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.

Related Links:

Small Business Loan

SBA Approved Banks in Strasburg, Virginia

Virginia SBA Banks