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May 11, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Dentists Loan | ||||
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I Need an SBA 7A Loan in Massapequa, New York
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Dentists Small Business LoansWith these small business loans for dentists, the SBA guarantees the lender that the loan will be repaid. This dentists loan for $100,000 was given to a New York entrepreneur in 2003. Getting a small business loan in Massapequa, New York was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Commerce Bank, operating out of Philadelphia, Pennsylvania. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: DENTISTS SBA Loan Lender COMMERCE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 621210 - Dentists Loan Approval Date 11/18/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs. Next Steps for Getting an SBA Loan 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. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Who Lends Money to Small Businesses in Philadelphia, Pennsylvania
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