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May 3, 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 > Personal Care Services Loan | ||||
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How to Get SBA Money in Richmond, Virginia
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Virginia Small Business Loan Issued to Personal Care Services CompanyWant a Virginia bank loan? This Virginia entrepreneur got a bank loan, provided by a New Jersey bank that works with the SBA to help small business owners. This company, based in Richmond, Virginia, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Cit Small Business Lending Corp. We've got the inside scoop on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: PERSONAL CARE SERVICES 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 812199 - Personal Care Services Loan Approval Date 12/5/2003 Loan Approval Gross Amount $935,500 Loan Approval from the SBA Of the total $935,500 loan amount, the SBA guaranteed $701,625. 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 42 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 34 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. This SBA loan was for $935,500. How would you spend $935,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 Best Livingston, New Jersey Banks for Small Business Getting a Business Loan in New Jersey
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