Plumbing, Heating, and Air Conditioning Contractors Small Business Loans

Looking for small business loans for plumbing, heating, and air conditioning contractors? An SBA loan may be just what you've been looking for. This $1,000,000 plumbing, heating, and air conditioning contractors loan was issued by a New Jersey bank.

This company knew how to go about getting a business bank loan. Based in Meridian, Idaho, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Cit Small Business Lending Corp, based in Livingston, New Jersey.

SBA Loan Borrower

COMPANY TYPE: PLUMBING, HEATING, AND AIR CONDITIONING CONTRACTORS
MERIDIAN, ID 83642

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

235110 - Plumbing, Heating, and Air Conditioning Contractors

Loan Approval Date

8/26/2005

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

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

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 45 employees. The SBA loan documents indicated that the funding would help generate 45 new jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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:

Obtaining Funding - How to Borrow Money

Small Bank Loans in Livingston, New Jersey

New Jersey SBA 7A Lenders