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March 28, 2024  
 
 
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Loan Census SBA Loan Info

SBA Loan from Cit Small Business Lending Corp Helps Nursery And Garden Centers Company

Cit Small Business Lending Corp and the SBA work together to get business loans for growing small businesses. Here's an example of how an Alabama entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Mobile, Alabama was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Cit Small Business Lending Corp, operating out of Livingston, New Jersey. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: NURSERY AND GARDEN CENTERS
MOBILE, AL 36606

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

444220 - Nursery and Garden Centers

Loan Approval Date

5/20/2003

Loan Approval Gross Amount

$132,100

Loan Approval from the SBA

Of the total $132,100 loan amount, the SBA guaranteed $112,285.

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 6 employees. The SBA loan documents indicated that the funding would help generate 6 new jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $132,100. How would you spend $132,100 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

The Friends and Family Network

Banks in Livingston, New Jersey

New Jersey SBA 7A Banks