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May 5, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Bowling Centers Loan | ||||
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Cit Small Business Lending Corp
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Business Loan from Cit Small Business Lending Corp Given to Bowling Centers CompanyCit Small Business Lending Corp is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Colorado entrepreneur who tapped into the power of SBA loans. This growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Cit Small Business Lending Corp, out of Livingston, New Jersey. The loan was granted and they received $998,000 to help grow their Canon City, Colorado business. SBA Loan Borrower COMPANY TYPE: BOWLING CENTERS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This lender provides SBA small business 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. NAICS Code 713950 - Bowling Centers Loan Approval Date 5/18/2006 Loan Approval Gross Amount $998,000 Loan Approval from the SBA Of the total $998,000 loan amount, the SBA guaranteed $748,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had no employees. The SBA loan documents indicated that the funding would help generate 10 new jobs. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: A Company That Helps Entrepreneurs Best Banks in Livingston, New Jersey Find an SBA Lender in New Jersey
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