Cit Small Business Lending Corp SBA Loan to Retail Bakeries Company
An SBA loan from Cit Small Business Lending Corp typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Dracut, Massachusetts business owner got a $237,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dracut, Massachusetts was able to borrow $237,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $177,750 of this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: RETAIL BAKERIES
DRACUT, MA 01826
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
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.
311811 - Retail Bakeries
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $237,000 loan amount, the SBA guaranteed $177,750.
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 12 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 10 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans provide smart, affordable business financing for small businesses looking to expand.
We can help you find the best banks for small businesses in Dracut or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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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