SBA Loan from Cit Small Business Lending Corp Helps Prerecorded Tape, Compact Disc, And Record Stores 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, an Indianapolis, Indiana business owner got a $180,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Indianapolis, Indiana was able to borrow $180,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $135,000 of this Indiana small business loan.
SBA Loan Borrower
COMPANY TYPE: PRERECORDED TAPE, COMPACT DISC, AND RECORD STORES
INDIANAPOLIS, IN 46220
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
This lender provides SBA guaranteed bank 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
451220 - Prerecorded Tape, Compact Disc, and Record Stores
Loan Approval Date
7/18/2001
Loan Approval Gross Amount
$180,000
Loan Approval from the SBA
Of the total $180,000 loan amount, the SBA guaranteed $135,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 3 employees. The loan application indicated that the loan would help create 3 new jobs.
Getting an SBA Loan For Your Business
Remember, you 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.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $180,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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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