Business Loans for Physicians

With these business loans for physicians, the SBA guarantees the lender that the loan will be repaid. This physicians loan for $40,000 was given to a Kentucky entrepreneur in 2001.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Citizens Bank & Trust. - Jackson, out of Jackson, Kentucky. The loan was granted and they received $40,000 to help grow their Jackson, Kentucky business.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE
JACKSON, KY 41339

SBA Loan Lender

CITIZENS BANK & TRUST. - JACKSON
720 KENTUCKY HWY 15 SOUTH
JACKSON, KY 41339

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8011 - Offices and Clinics of Doctors of Medicine

NAICS Code

621111 - Physicians

Loan Approval Date

4/25/2001

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens Bank & Trust. - Jackson had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens Bank & Trust. - Jackson made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Obtaining Funding - Getting Venture Capital

SBA 7A Banks for Jackson, Kentucky Loans

SBA Participating Banks in Kentucky