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May 1, 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 > Wood Television, Radio, And Sewing Machine Cabinet Manufacturing Loan | ||||
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Cit Small Business Lending Corp Fort Myers, Florida
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Cit Small Business Lending Corp SBA Loan to Wood Television, Radio, And Sewing Machine Cabinet Manufacturing 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 Florida entrepreneur who tapped into the power of SBA loans. This small firm knew how to go about getting a business bank loan. Based in Fort Myers, Florida, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Cit Small Business Lending Corp, based in Livingston, New Jersey. SBA Loan Borrower COMPANY TYPE: WOOD TELEVISION, RADIO, AND SEWING MACHINE CABINET MANUFACTURING SBA Loan Lender CIT SMALL BUSINESS LENDING CORP Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 337129 - Wood Television, Radio, and Sewing Machine Cabinet Manufacturing Loan Approval Date 8/21/2007 Loan Approval Gross Amount $625,000 Loan Approval from the SBA Of the total $625,000 loan amount, the SBA guaranteed $468,750. More Information on This SBA Loan The borrower borrowed this money for an existing 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 19 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 17 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Cit Small Business Lending Corp are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: Role of Business Plan When Raising Money SBA Banks in Livingston, New Jersey
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