 |
 |
December 21, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > California Business Loan Sources > Oakland, Business Loans > Cit Small Business Lending Corp Oakland Business Loans > Physicians Loan | ||||
 |
||||
California Small Business Funding
|
||||
 |
Where to Get Capital for PhysiciansLooking for small business loans for physicians? The SBA may be the answer. This $1,333,000 physicians loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fresno, California was able to borrow $1,333,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $999,750 of this California small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICIANS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP At the time this loan was granted, this bank was part of the SBA's Certified Lenders Program (CLP). This program is designed to provide rapid 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 621111 - Physicians Loan Approval Date 6/7/2001 Loan Approval Gross Amount $1,333,000 Loan Approval from the SBA Of the total $1,333,000 loan amount, the SBA guaranteed $999,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small 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: SBA 7A Banks in Oakland, California
|
|
||
|
||||
|
|
||||