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May 5, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Lessors Of Nonfinancial Intangible Assets Loan | ||||
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Small Business Banks for Flowood Entrepreneurs
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Mississippi Small Business Loan Issued to Lessors Of Nonfinancial Intangible Assets CompanyMississippiBusiness loans are available to Mississippi business owners through the SBA. In this case, a New Jersey bank provides the loan. Getting a small business loan in Flowood, Mississippi was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Cit Small Business Lending Corp. Here are the details on this Mississippi small business loan. SBA Loan Borrower COMPANY TYPE: LESSORS OF NONFINANCIAL INTANGIBLE ASSETS 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 commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 533110 - Lessors of Nonfinancial Intangible Assets Loan Approval Date 12/17/2004 Loan Approval Gross Amount $1,200,000 Loan Approval from the SBA Of the total $1,200,000 loan amount, the SBA guaranteed $900,000. 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 6 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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: Best Livingston, New Jersey Banks for Small Business
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