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May 5, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Dallas, Business Loans > Comerica Bank Dallas Business Loans > Physicians Loan | ||||
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Texas Small Business Funding
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Where to Get Capital for PhysiciansLooking for small business loans for physicians? Try the SBA. This $624,000 physicians loan was issued by a Texas bank. This small firm knew how to go about getting a business bank loan. Based in El Paso, Texas, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Comerica Bank, based in Dallas, Texas. SBA Loan Borrower COMPANY TYPE: PHYSICIANS SBA Loan Lender COMERICA BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621111 - Physicians Loan Approval Date 9/27/2005 Loan Approval Gross Amount $624,000 Loan Approval from the SBA Of the total $624,000 loan amount, the SBA guaranteed $468,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs. Start the Process for Getting an SBA Loan Today! If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source 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: Accountant's Role in Securing Financing Good Banks for Small Business in Dallas, Texas
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