SBA Loans for Relay and Industrial Control Manufacturing

With these SBA loans for relay and industrial control manufacturing, the SBA guarantees the lender that the loan will be repaid. This relay and industrial control manufacturing loan for $408,600 was given to a Georgia entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Norcross, Georgia was able to borrow $408,600 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $306,450 of this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: RELAYS AND INDUSTRIAL CONTROLS
NORCROSS, GA 30071

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This lender provides SBA 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

3625 - Relays and Industrial Controls

NAICS Code

335314 - Relay and Industrial Control Manufacturing

Loan Approval Date

7/7/2000

Loan Approval Gross Amount

$408,600

Loan Approval from the SBA

Of the total $408,600 loan amount, the SBA guaranteed $306,450.

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 14 employees. The SBA loan application for the borrower indicated that the loan would help retain 14 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Cit Small Business Lending Corp that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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