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May 9, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Memphis, Business Loans > Regions Bank Memphis Business Loans > Offices And Clinics Of Chiropractors Loan | ||||
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Raising Money in Peoria, Illinois With SBA Loans
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Financing for ChiropractorsLooking for commercial loans for chiropractors? An SBA loan may be just what you've been looking for. This $140,000 chiropractors loan was issued by a Tennessee bank. This business knew how to go about getting a business bank loan. Based in Peoria, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Regions Bank, based in Memphis, Tennessee. SBA Loan Borrower COMPANY TYPE: OFFICES AND CLINICS OF CHIROPRACTORS SBA Loan Lender REGIONS BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8041 - Offices and Clinics of Chiropractors NAICS Code 621310 - Chiropractors Loan Approval Date 9/26/2001 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $119,000. 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 business promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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 Regions 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. Related Links: Best Banks in Memphis, Tennessee SBA Participating Banks in Tennessee
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