Business Loan from The Cit Group, Inc. Given to Groceries And Related Products Company
The Cit Group, Inc. 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 Alabama entrepreneur who tapped into the power of SBA loans.
This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with The Cit Group, Inc., out of Livingston, New Jersey. The loan was granted and they received $740,000 to help grow their Montgomery, Alabama business.
SBA Loan Borrower
COMPANY TYPE: GROCERIES AND RELATED PRODUCTS
MONTGOMERY, AL 36117
SBA Loan Lender
THE CIT GROUP, INC.
650 CIT DR
LIVINGSTON, NJ 07039
When it made this small business loan, this bank participated in the SBA's Certified Lenders Program (CLP). This program was created to provide expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.
SBA Loan Program Type
This loan was issued as a general business loan.
5149 - Groceries and Related Products
422490 - Grocery and Related Products Wholesalers
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $740,000 loan amount, the SBA guaranteed $555,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 13 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA loans provide money to small business owners for working capital for other expenses.
We can help you find the best banks for small businesses in Montgomery or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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.
Startup Funding Tip
Small Business Banks in Livingston, New Jersey
SBA Lenders in New Jersey