Raising Money for Chiropractors

Looking for bank loans for chiropractors? An SBA loan may be just what you've been looking for. This $42,000 chiropractors loan was issued by an Iowa bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Winterset, Iowa was able to borrow $42,000 from Exchange State Bank. The SBA made the loan possible by guaranteeing $35,700 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: CHIROPRACTORS
WINTERSET, IA 50273

SBA Loan Lender

EXCHANGE STATE BANK
322 AUDUBON ST
ADAIR, IA 50002

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

621310 - Chiropractors

Loan Approval Date

11/14/2001

Loan Approval Gross Amount

$42,000

Loan Approval from the SBA

Of the total $42,000 loan amount, the SBA guaranteed $35,700.

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 3 employees. This SBA loan request did not indicate that the business promised to use the funding to add employees or retain any existing employees.

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

If you are wondering how to raise money for a business in Winterset IA, you ought to talk with a local Winterset SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Winterset businesses.

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:

SBIR Funding

Small Business Banks in Adair, Iowa

Find an SBA Lender in Iowa