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December 22, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Automotive Glass Replacement Shops Loan | ||||
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Livingston Bank Loan
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Entrepreneur Works With Livingston, New Jersey Bank to Get an SBA LoanThinking about meeting with a Livingston, New Jersey bank about a business loan? Here's one Oregon business loan, issued by a Livingston bank, that was approved by the SBA. Applying for an SBA loan with Cit Small Business Lending Corp worked out well for our friends at one local firm in Milwaukie, Oregon. They received an SBA loan for $750,000. Awesome! SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE GLASS REPLACEMENT SHOPS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811122 - Automotive Glass Replacement Shops Loan Approval Date 5/6/2005 Loan Approval Gross Amount $750,000 Loan Approval from the SBA Of the total $750,000 loan amount, the SBA guaranteed $562,500. 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 50 employees. This SBA loan request indicated that the loan would help retain 50 existing jobs. Getting an SBA Loan For Your Business If you are working on finding money to start a business in Milwaukie OR, you ought to talk with a local Milwaukie SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Milwaukie 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: Role of Business Plan When Raising Money Where to Get an SBA Loan in Livingston, New Jersey
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