Raising Money for Continuing Care Retirement Communities
Looking for business loans for continuing care retirement communities? Talk to a banker who works with the SBA. This $805,000 continuing care retirement communities loan was issued by a Texas bank.
This business knew how to go about getting a business bank loan. Based in Tucson, Arizona, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Comerica Bank, based in Houston, Texas.
SBA Loan Borrower
COMPANY TYPE: NURSING AND PERSONAL CARE FACILITIES, N.E.C
TUCSON, AZ 85712
SBA Loan Lender
COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
8059 - Nursing and Personal Care Facilities, N.E.C
NAICS Code
623311 - Continuing Care Retirement Communities
Loan Approval Date
12/21/2004
Loan Approval Gross Amount
$805,000
Loan Approval from the SBA
Of the total $805,000 loan amount, the SBA guaranteed $603,750.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 6 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Comerica Bank and they will explain how you can get an SBA loan for your company.
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:
Understanding Dilution
Where to Get an SBA Loan in Houston, Texas
Getting an SBA Loan in Texas