How to Get a Loan for Psychiatric and Substance Abuse Hospitals

Looking for business loans for psychiatric and substance abuse hospitals? Try the SBA. This $2,000,000 psychiatric and substance abuse hospitals loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Waverly, Minnesota was able to borrow $2,000,000 from Premier Bank. The SBA made the loan possible by guaranteeing $1,500,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: PSYCHIATRIC AND SUBSTANCE ABUSE HOSPITALS
WAVERLY, MN 55390

SBA Loan Lender

PREMIER BANK
2866 WHITE BEAR AVE
MAPLEWOOD, MN 55109

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

622210 - Psychiatric and Substance Abuse Hospitals

Loan Approval Date

11/29/2005

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

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 80 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Premier Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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