Business Loans for Offices of Health Practitioners

With these business loans for offices of health practitioners, the SBA guarantees the lender that the loan will be repaid. This offices of health practitioners loan for $11,000 was given to an Oklahoma entrepreneur in 2001.

Advantage Audiology knew how to go about getting a business bank loan. Based in Tulsa, Oklahoma, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Tulsa National Bank, based in Tulsa, Oklahoma.

SBA Loan Borrower

ADVANTAGE AUDIOLOGY
3315 EAST 47TH PLACE,STE 105
TULSA, OK 74135

SBA Loan Lender

TULSA NATIONAL BANK
7120 S LEWIS AVE
TULSA, OK 74136

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program requires 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.

NAICS Code

621399 - Offices of All Other Miscellaneous Health Practitioners

Loan Approval Date

2/21/2001

Loan Approval Gross Amount

$11,000

Loan Approval from the SBA

Of the total $11,000 loan amount, the SBA guaranteed $9,350.

More Information on This SBA Loan

The borrower, Advantage Audiology, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. This loan was paid in full, and was closed out on 12/30/2004.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Advantage Audiology needed a loan. Tulsa National Bank probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, Tulsa National Bank made the loan. The end result was that Advantage Audiology 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 SBA loan database.

Related Links:

Investor Turnoffs

Where to Get an SBA Loan in Tulsa, Oklahoma

Getting an SBA Loan in Oklahoma

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