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May 3, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Borrego Springs, Business Loans > Borrego Springs Bank Borrego Springs Business Loans > Physicians Loan | ||||
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Borrego Springs Bank Business Loans
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Business Loans for PhysiciansWith these business loans for physicians, the SBA guarantees the lender that the loan will be repaid. This physicians loan for $1,100,000 was given to an Idaho entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Idaho Falls, Idaho was able to borrow $1,100,000 from Borrego Springs Bank. The SBA made the loan possible by guaranteeing $825,000 of this Idaho small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICIANS SBA Loan Lender BORREGO SPRINGS BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621111 - Physicians Loan Approval Date 7/23/2007 Loan Approval Gross Amount $1,100,000 Loan Approval from the SBA Of the total $1,100,000 loan amount, the SBA guaranteed $825,000. 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 indicated that the loan would help generate 2 new jobs and retain 6 existing jobs. Start the Process for Getting an SBA Loan Today! If you are wondering how to raise money for a business in Idaho Falls ID, you ought to talk with a local Idaho Falls SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Idaho Falls 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. Related Links: Best Banks for Small Business in Borrego Springs, California
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