Livingston, New Jersey Bank Lends Money to Veterinary Services Company in Belmond, Iowa

Thinking about meeting with a Livingston, New Jersey bank about a business loan? Here's one Iowa business loan, issued by a Livingston bank, that was approved by the SBA.

Applying for an SBA loan with Cit Small Business Lending Corp worked out well for our friends at one local business in Belmond, Iowa. They got an SBA loan for $342,000. Nice!

SBA Loan Borrower

COMPANY TYPE: VETERINARY SERVICES
BELMOND, IA 50421

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541940 - Veterinary Services

Loan Approval Date

11/18/2005

Loan Approval Gross Amount

$342,000

Loan Approval from the SBA

Of the total $342,000 loan amount, the SBA guaranteed $256,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the borrowed money would help create 5 new jobs.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Belmond IA, you ought to talk with a local Belmond SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Belmond 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:

Determining Proper Capital Structure for a Business

Find an SBA Lender in Livingston, New Jersey

New Jersey SBA 7A Lenders