How to Get a Loan for Dental Equipment and Supplies Manufacturing

Looking for business loans for dental equipment and supplies manufacturing? Talk to a banker who works with the SBA. This $585,000 dental equipment and supplies manufacturing loan was issued by a New Jersey bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Folcroft, Pennsylvania was able to borrow $585,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $438,750 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: DENTAL EQUIPMENT AND SUPPLIES MANUFACTURING
FOLCROFT, PA 19033

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

339114 - Dental Equipment and Supplies Manufacturing

Loan Approval Date

1/5/2004

Loan Approval Gross Amount

$585,000

Loan Approval from the SBA

Of the total $585,000 loan amount, the SBA guaranteed $438,750.

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 7 employees. The SBA loan documents indicated that the loan would help retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Folcroft PA, you ought to talk with a local Folcroft SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Folcroft 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.

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