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May 3, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Golden, Business Loans > Cit Small Business Lending Corp Golden Business Loans > Offices And Clinics Of Dentists Loan | ||||
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Cit Small Business Lending Corp SBA Loans Brookings, SD
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Brookings, South Dakota Business Gets SBA-Guaranteed Funding from Cit Small Business Lending CorpCit Small Business Lending Corp and the SBA work together to get business loans for growing small businesses. Here's an example of how a South Dakota entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Brookings, South Dakota was able to borrow $695,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $521,250 of this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: OFFICES AND CLINICS OF DENTISTS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8021 - Offices and Clinics of Dentists NAICS Code 621210 - Dentists Loan Approval Date 7/29/2003 Loan Approval Gross Amount $695,000 Loan Approval from the SBA Of the total $695,000 loan amount, the SBA guaranteed $521,250. 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 8 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Family and Friend Investors - Your First Financiers SBA 7A Banks in Golden, Colorado Getting a Business Loan in Colorado
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