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April 28, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Refrigeration Equipment And Supplies Loan | ||||
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Knoxville SBA Loans
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Knoxville, Tennessee Entrepreneur Gets a Small Business LoanTennesseeBank loans are available to Tennessee firms through the SBA. In this case, a New Jersey bank provides the loan. Getting a small business loan in Knoxville, Tennessee was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Cit Small Business Lending Corp. Here are the details on this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: REFRIGERATION EQUIPMENT AND SUPPLIES SBA Loan Lender CIT SMALL BUSINESS LENDING CORP At the time this loan was granted, this bank participated in the SBA's Certified Lenders Program (CLP). This program aims to offer speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5078 - Refrigeration Equipment and Supplies NAICS Code 421740 - Refrigeration Equipment and Supplies Wholesalers Loan Approval Date 12/18/2001 Loan Approval Gross Amount $520,000 Loan Approval from the SBA Of the total $520,000 loan amount, the SBA guaranteed $390,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Cit Small Business Lending Corp so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Dealing With Venture Capitalists Who Lends Money to Small Businesses in Livingston, New Jersey
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