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May 5, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Engineering Services Loan | ||||
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Business Loan from Cit Small Business Lending Corp
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Cit Small Business Lending Corp SBA Loan to Engineering Services CompanyCit Small Business Lending Corp has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lewisville, Texas was able to borrow $858,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $643,500 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This lender provides SBA 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 541330 - Engineering Services Loan Approval Date 12/21/2005 Loan Approval Gross Amount $858,000 Loan Approval from the SBA Of the total $858,000 loan amount, the SBA guaranteed $643,500. 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 6 employees. The SBA loan documents indicated that the funding would help generate 6 new jobs. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Small Bank Loans in Livingston, New Jersey Browse All Business Loan Sources for New Jersey
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