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April 26, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Golden, Business Loans > Cit Small Business Lending Corp Golden Business Loans > Sports And Recreation Instruction Loan | ||||
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SBA Lender Centennial Colorado
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Cit Small Business Lending Corp Gives Bank Loan to Sports And Recreation Instruction CompanyLooking to get a Colorado bank loan? This Colorado entrepreneur got a bank loan, provided by a Colorado bank that works with the SBA to help small business owners. By giving the right information to Cit Small Business Lending Corp, this Centennial, Colorado business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION SBA Loan Lender CIT SMALL BUSINESS LENDING CORP The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 611620 - Sports and Recreation Instruction Loan Approval Date 3/24/2003 Loan Approval Gross Amount $387,000 Loan Approval from the SBA Of the total $387,000 loan amount, the SBA guaranteed $290,250. 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 did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Best Golden, Colorado Banks for Small Business
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