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May 5, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Lawn And Garden Equipment Loan | ||||
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Getting SBA Loans from Cit Small Business Lending Corp
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Cit Small Business Lending Corp SBA Loan to Lawn And Garden Equipment 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 California entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Los Angeles, California was able to borrow $913,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $625,222 of this California small business loan. SBA Loan Borrower COMPANY TYPE: LAWN AND GARDEN EQUIPMENT 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. SIC Code 3524 - Lawn and Garden Equipment Loan Approval Date 7/21/2000 Loan Approval Gross Amount $913,000 Loan Approval from the SBA Of the total $913,000 loan amount, the SBA guaranteed $625,222. 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 50 employees. The loan application indicated that the loan would help generate 15 new jobs and retain 35 existing jobs. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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
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