Cit Small Business Lending Corp SBA Loan to Dentists Company

Cit Small Business Lending Corp has a track record as a leading provider of SBA loans. Find out how this Arizona entrepreneur received an SBA loan from them.

This business knew how to go about getting a business bank loan. Based in Mesa, Arizona, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Cit Small Business Lending Corp, based in Livingston, New Jersey.

SBA Loan Borrower

COMPANY TYPE: DENTISTS
MESA, AZ 85206

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621210 - Dentists

Loan Approval Date

11/4/2003

Loan Approval Gross Amount

$615,000

Loan Approval from the SBA

Of the total $615,000 loan amount, the SBA guaranteed $461,250.

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 2 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 2 new jobs.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Mesa AZ, you ought to talk with a local Mesa SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mesa 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:

Startup Funding Tip

Where to Get an SBA Loan in Livingston, New Jersey

SBA Lenders in New Jersey