Raising Money for Plumbing, Heating, and Air Conditioning Contractors

With these business loans for plumbing, heating, and air conditioning contractors, the SBA guarantees the lender that the loan will be repaid. This plumbing, heating, and air conditioning contractors loan for $125,000 was given to a North Carolina entrepreneur in 2002.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Cit Small Business Lending Corp, out of Livingston, New Jersey. The loan was granted and they received $125,000 to help grow their Highlands, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: PLUMBING, HEATING, AND AIR CONDITIONING CONTRACTORS
HIGHLANDS, NC 27841

SBA Loan Lender

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

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235110 - Plumbing, Heating, and Air Conditioning Contractors

Loan Approval Date

6/25/2002

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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:

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Best Banks for Small Business in Livingston, New Jersey

New Jersey SBA 7A Lenders