Getting an SBA Loan for Dentists

Looking for commercial loans for dentists? The SBA may be the answer. This $527,000 dentists loan was issued by an Alabama bank.

This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Compass Bank, out of Birmingham, Alabama. The loan was granted and they received $527,000 to help grow their Florissant, Missouri business.

SBA Loan Borrower

COMPANY TYPE: DENTISTS
Florissant, MO 63033

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

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

621210 - Dentists

Loan Approval Date

8/23/2007

Loan Approval Gross Amount

$527,000

Loan Approval from the SBA

Of the total $527,000 loan amount, the SBA guaranteed $395,250.

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 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Florissant MO, you ought to talk with a local Florissant SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Florissant 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.

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