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November 23, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Physical, Occupational And Speech Therapists, And Audiologists Loan | ||||
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Texas SBA Loan from Cit Small Business Lending Corp
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Business Loan from Cit Small Business Lending Corp Given to Physical, Occupational And Speech Therapists, And Audiologists CompanyAn SBA loan from Cit Small Business Lending Corp typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an El Paso, Texas business owner got a $1,665,000 loan. This growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Cit Small Business Lending Corp, out of Livingston, New Jersey. The loan was granted and they received $1,665,000 to help grow their El Paso, Texas business. SBA Loan Borrower COMPANY TYPE: PHYSICAL, OCCUPATIONAL AND SPEECH THERAPISTS, AND AUDIOLOGISTS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP 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 621340 - Physical, Occupational and Speech Therapists, and Audiologists Loan Approval Date 3/31/2006 Loan Approval Gross Amount $1,665,000 Loan Approval from the SBA Of the total $1,665,000 loan amount, the SBA guaranteed $1,248,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 42 employees. This SBA loan request indicated that the loan would help generate 38 new jobs and retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! If you need money to start business in El Paso TX, you ought to talk with a local El Paso SBA lender or talk with an out-of-area SBA lender that has previously loaned money to El Paso 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: Role of Business Plan When Raising Money Where to Get an SBA Loan in Livingston, New Jersey Browse All Business Loan Sources for New Jersey
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