Business Loan from Cit Small Business Lending Corp Given to Physical, Occupational And Speech Therapists, And Audiologists Company

An 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
EL PASO, TX 79934

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

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.

Where to Get an SBA Loan in Livingston, New Jersey

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Texas SBA Loan from Cit Small Business Lending Corp

Business Loan from Cit Small Business Lending Corp Given to Physical, Occupational And Speech Therapists, And Audiologists Company