Getting an SBA Loan for Dentists
With these commercial loans for dentists, the SBA guarantees the lender that the loan will be repaid. This dentists loan for $812,000 was given to a Texas entrepreneur in 2002.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Georgetown, Texas was able to borrow $812,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $609,000 of this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: OFFICES AND CLINICS OF DENTISTS
GEORGETOWN, TX 78626
SBA Loan Lender
WELLS FARGO BANK
16414 SAN PEDRO, STE 1000
SAN ANTONIO, TX 78232
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
8021 - Offices and Clinics of Dentists
621210 - Dentists
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $812,000 loan amount, the SBA guaranteed $609,000.
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 6 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wells Fargo Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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.
Raising VC Money for Social Networking Companies
SBA 7A Banks in San Antonio, Texas
Browse All Business Loan Sources for Texas