Local Business Gets a Texas Business Loan

Looking to get a Texas business loan? This Texas entrepreneur got a business loan, provided by a New Jersey bank that works with the SBA to help small business owners.

By giving the right information to Cit Small Business Lending Corp, this Cedar Hill, Texas business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: DENTAL EQUIPMENT AND SUPPLIES MANUFACTURING
CEDAR HILL, TX 75104

SBA Loan Lender

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

At the time this loan was granted, this bank was part of the SBA's Certified Lenders Program (CLP). This program is designed to offer speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339114 - Dental Equipment and Supplies Manufacturing

Loan Approval Date

1/19/2007

Loan Approval Gross Amount

$364,700

Loan Approval from the SBA

Of the total $364,700 loan amount, the SBA guaranteed $273,525.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

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 $364,700 loan. Remember, where there is a will, there is a way!

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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