SBA Loan from Cit Small Business Lending Corp Helps Dentists Company

Cit Small Business Lending Corp has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Ballston Lake, New York, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Cit Small Business Lending Corp, based in Livingston, New Jersey.

SBA Loan Borrower

COMPANY TYPE: DENTISTS
BALLSTON LAKE, NY 12019

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

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

621210 - Dentists

Loan Approval Date

8/20/2001

Loan Approval Gross Amount

$445,000

Loan Approval from the SBA

Of the total $445,000 loan amount, the SBA guaranteed $333,750.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Ballston Lake NY, you ought to talk with a local Ballston Lake SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ballston Lake businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $445,000 loan. Remember, feel the fear, and do it anyway.

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.

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