Financing for Chiropractors
With these commercial loans for chiropractors, the SBA guarantees the lender that the loan will be repaid. This chiropractors loan for $110,000 was given to a South Dakota entrepreneur in 2003.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Aberdeen, South Dakota was able to borrow $110,000 from Great Western Bank. The SBA made the loan possible by guaranteeing $93,500 of this South Dakota small business loan.
SBA Loan Borrower
COMPANY TYPE: CHIROPRACTORS
ABERDEEN, SD 57401
SBA Loan Lender
GREAT WESTERN BANK
119 6TH AVE SE
ABERDEEN, SD 57402
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.
621310 - Chiropractors
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $110,000 loan amount, the SBA guaranteed $93,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
Every year, the SBA guarantees over $10 billion for loans just like this one.
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.
Dealing With Venture Capitalists
SBA Banks in Aberdeen, South Dakota
SBA Lenders in South Dakota