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April 29, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Fast Frame Loan | ||||
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How to Get SBA Loans in Chatham, New Jersey
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Chatham, NJ Entrepreneur Gets SBA Loan to Buy Fast Frame FranchiseBorrowing money to purchase a Fast Frame franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA. Fast Frame franchise loans are available to Chatham, New Jersey entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cit Small Business Lending Corp, based in Livingston, New Jersey, issued an SBA franchise loan for a Fast Frame franchise in 2003. We've got all the details on this New Jersey small business loan. SBA Loan Borrower FAST FRAME SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 442299 - Home Furnishings Stores Loan Approval Date 10/29/2003 Loan Approval Gross Amount $152,000 Loan Approval from the SBA Of the total $152,000 loan amount, the SBA guaranteed $114,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Fast Frame franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help create 2 new jobs. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Banks for Small Business in Livingston, New Jersey
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