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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 > Tobacco And Tobacco Products Loan | ||||
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New Jersey Bank SBA Loans
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Livingston, New Jersey Bank Gives SBA Loan to Tobacco And Tobacco Products CompanyThinking about meeting with a Livingston, New Jersey bank about an SBA loan? Here's one Texas business loan, issued by a Livingston bank, that was approved by the SBA. Applying for an SBA loan with Cit Small Business Lending Corp worked out well for our friends at one local firm in El Paso, Texas. They received an SBA loan for $954,000. Way to go! SBA Loan Borrower COMPANY TYPE: TOBACCO AND TOBACCO PRODUCTS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This lender provides SBA debt financing 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. SIC Code 5194 - Tobacco and Tobacco Products NAICS Code 422940 - Tobacco and Tobacco Product Wholesalers Loan Approval Date 6/16/2000 Loan Approval Gross Amount $954,000 Loan Approval from the SBA Of the total $954,000 loan amount, the SBA guaranteed $577,255. 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 28 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 18 existing jobs. Next Steps for Getting an SBA Loan 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Cit Small Business Lending Corp and they will explain how you can get an SBA loan for your company. 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 SBA Banks in Livingston, New Jersey
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