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April 27, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Certified Public Accountants Loan | ||||
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Chicago, Illinois Bank Loan
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Chicago, Illinois Entrepreneur Gets an SBA LoanIllinoisSmall business loans are available to Illinois small business owners through the SBA. In this case, a New Jersey bank provides the loan. By giving the right information to Cit Small Business Lending Corp, this Chicago, Illinois business was able to get an SBA loan. To get this loan, the loan applicant 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: CERTIFIED PUBLIC ACCOUNTANTS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541211 - Certified Public Accountants Loan Approval Date 11/27/2006 Loan Approval Gross Amount $405,800 Loan Approval from the SBA Of the total $405,800 loan amount, the SBA guaranteed $304,350. 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 8 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 8 existing jobs. Getting an SBA Loan For Your Business 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Cit Small Business Lending Corp and they will explain how you can get an SBA loan for your company. 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: How Much Venture Capital Is There? Small Bank Loans in Livingston, New Jersey
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