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May 4, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Motorcycles, Bicycles, And Parts Loan | ||||
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Banks for Clearwater, Florida Small Businesses
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Motorcycle, Bicycle, and Parts Manufacturing LoansWith these loans for motorcycle, bicycle, and parts manufacturing, the SBA guarantees the lender that the loan will be repaid. This motorcycle, bicycle, and parts manufacturing loan for $631,000 was given to a Florida entrepreneur in 2002. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clearwater, Florida was able to borrow $631,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $363,355 of this Florida small business loan. SBA Loan Borrower COMPANY TYPE: MOTORCYCLES, BICYCLES, AND PARTS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3751 - Motorcycles, Bicycles, and Parts NAICS Code 336991 - Motorcycle, Bicycle, and Parts Manufacturing Loan Approval Date 12/23/2002 Loan Approval Gross Amount $631,000 Loan Approval from the SBA Of the total $631,000 loan amount, the SBA guaranteed $363,355. 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 15 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Who Lends Money to Small Businesses in Livingston, New Jersey
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