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| Entrepreneur Resources | Cit Small Business Lending Corp Livingston Business Loans | ||||
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Miami, Florida Bank Loan
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Getting an SBA Loan for Couriers and Express Delivery ServicesLooking for commercial loans for couriers and express delivery services? An SBA loan may be just what you've been looking for. This $338,000 couriers and express delivery services loan was issued by a New Jersey bank.
Mbf 1818, Inc. received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Cit Small Business Lending Corp, out of Livingston, New Jersey. The loan was granted and they received $338,000 to help grow their Miami, Florida business. SBA Loan Borrower MBF 1818, Inc. SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This lender provides SBA 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 492110 - Couriers and Express Delivery Services Loan Approval Date 2/21/2007 Loan Approval Gross Amount $338,000 Loan Approval from the SBA Of the total $338,000 loan amount, the SBA guaranteed $253,500. More Information on This SBA Loan The borrower, Mbf 1818, Inc., borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan 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. 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 SBA loan database. Related Links: Best Livingston, New Jersey Banks for Small Business If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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