Loan Census Banking News and Information
April 20, 2021  
 
 
  Business Loan Information  
 

Cit Small Business Lending Corp Dracut

 

 
Loan Census SBA Loan Info

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.

NAICS Code

311811 - Retail Bakeries

Loan Approval Date

11/7/2001

Loan Approval Gross Amount

$237,000

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.

Related Links:

Advice on Getting a Small Business Loan

Small Bank Loans in Livingston, New Jersey

Getting an SBA Loan in New Jersey