Raising Money for Lawyers

With these bank loans for lawyers, the SBA guarantees the lender that the loan will be repaid. This lawyers loan for $513,500 was given to an Indiana entrepreneur in 2008.

This company knew how to go about getting a business bank loan. Based in Carmel, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was Cit Small Business Lending Corp, based in Livingston, New Jersey.

SBA Loan Borrower

COMPANY TYPE: LAWYERS
Carmel, IN 46032

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This lender provides SBA commercial 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

541110 - Lawyers

Loan Approval Date

1/18/2008

Loan Approval Gross Amount

$513,500

Loan Approval from the SBA

Of the total $513,500 loan amount, the SBA guaranteed $385,125.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 no employees. The SBA loan application for the borrower indicated that the loan would help create 2 new jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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Getting an SBA Loan in New Jersey