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April 29, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Photography Studios, Portrait Loan | ||||
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Cit Small Business Lending Corp
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SBA Loan from Cit Small Business Lending Corp Helps Photography Studios, Portrait CompanyCit Small Business Lending Corp is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Mexico entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Albuquerque, New Mexico was able to borrow $802,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $601,500 of this New Mexico small business loan. SBA Loan Borrower COMPANY TYPE: PHOTOGRAPHY STUDIOS, PORTRAIT SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541921 - Photography Studios, Portrait Loan Approval Date 3/16/2005 Loan Approval Gross Amount $802,000 Loan Approval from the SBA Of the total $802,000 loan amount, the SBA guaranteed $601,500. 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 10 employees. The SBA loan documents indicated that the loan would help retain 9 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Small Business Banks in Livingston, New Jersey SBA Participating Banks in New Jersey
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