Getting an SBA Loan for Home Health Equipment Rental

Looking for business loans for home health equipment rental? The SBA may be the answer. This $1,557,000 home health equipment rental loan was issued by a New Jersey bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gilbert, Arizona was able to borrow $1,557,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $1,167,750 of this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME HEALTH EQUIPMENT RENTAL
GILBERT, AZ 85233

SBA Loan Lender

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

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532291 - Home Health Equipment Rental

Loan Approval Date

6/23/2006

Loan Approval Gross Amount

$1,557,000

Loan Approval from the SBA

Of the total $1,557,000 loan amount, the SBA guaranteed $1,167,750.

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 32 employees. The SBA loan application for the borrower indicated that the loan would help generate 30 new jobs and retain 2 existing jobs.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Cit Small Business Lending Corp that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Startup Funding Tip

Best Livingston, New Jersey Banks for Small Business

Getting an SBA Loan in New Jersey