Physicians Commercial Loans
Looking for commercial loans for physicians? An SBA loan may be just what you've been looking for. This $206,400 physicians loan was issued by a New Jersey bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Metuchen, New Jersey was able to borrow $206,400 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $154,800 of this New Jersey small business loan.
SBA Loan Borrower
COMPANY TYPE: PHYSICIANS
METUCHEN, NJ 08840
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
621111 - Physicians
Loan Approval Date
1/15/2003
Loan Approval Gross Amount
$206,400
Loan Approval from the SBA
Of the total $206,400 loan amount, the SBA guaranteed $154,800.
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 documents indicated that the loan would help retain 2 existing jobs.
Start the Process for Getting an SBA Loan Today!
Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
We can help you find the best banks for small businesses in Metuchen or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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.
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