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May 6, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Optometrists Loan | ||||
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Getting a Small Business Loan in Pikesville, Maryland
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Firm Gets a Maryland SBA LoanMarylandSmall business loans are available to Maryland small business owners through the SBA. In this case, a New Jersey bank provides the loan. You can learn something about getting a small business loan in Pikesville, Maryland by studying this loan to a local company, made back in 2004. Banks like Cit Small Business Lending Corp may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: OPTOMETRISTS 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 621320 - Optometrists Loan Approval Date 11/8/2004 Loan Approval Gross Amount $274,000 Loan Approval from the SBA Of the total $274,000 loan amount, the SBA guaranteed $205,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the funding would help generate 3 new jobs. Start the Process for Getting an SBA Loan Today! 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. 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 Who Lends Money to Small Businesses in Livingston, New Jersey
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