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December 22, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Chiropractors Loan | ||||
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Oakton, Virginia Bank Loan
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Chiropractors Bank LoansWith these bank loans for chiropractors, the SBA guarantees the lender that the loan will be repaid. This chiropractors loan for $798,000 was given to a Virginia entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Oakton, Virginia was able to borrow $798,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $598,500 of this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: CHIROPRACTORS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP 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 621310 - Chiropractors Loan Approval Date 11/22/2004 Loan Approval Gross Amount $798,000 Loan Approval from the SBA Of the total $798,000 loan amount, the SBA guaranteed $598,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help retain 7 existing jobs. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small 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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