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April 27, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Food Supplement Stores Loan | ||||
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Requirements for Businesses On Getting a Loan
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Food Supplement Stores SBA LoansWith these SBA loans for food supplement stores, the SBA guarantees the lender that the loan will be repaid. This food supplement stores loan for $257,000 was given to a Texas entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Antonio, Texas was able to borrow $257,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $192,750 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: FOOD SUPPLEMENT STORES SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 446191 - Food Supplement Stores Loan Approval Date 9/26/2007 Loan Approval Gross Amount $257,000 Loan Approval from the SBA Of the total $257,000 loan amount, the SBA guaranteed $192,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs. Getting an SBA Loan For Your Business If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source 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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