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May 2, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Ice Cream And Frozen Dessert Manufacturing Loan | ||||
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Cit Small Business Lending Corp
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Cit Small Business Lending Corp SBA Loan to Ice Cream And Frozen Dessert 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 North Carolina entrepreneur who tapped into the power of SBA loans. This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Cit Small Business Lending Corp, out of Livingston, New Jersey. The loan was granted and they received $339,000 to help grow their Monroe, North Carolina business. SBA Loan Borrower COMPANY TYPE: ICE CREAM AND FROZEN DESSERT MANUFACTURING SBA Loan Lender CIT SMALL BUSINESS LENDING CORP 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 311520 - Ice Cream and Frozen Dessert Manufacturing Loan Approval Date 2/28/2006 Loan Approval Gross Amount $339,000 Loan Approval from the SBA Of the total $339,000 loan amount, the SBA guaranteed $254,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 11 employees. The SBA loan documents indicated that the borrowed money would help create 11 new jobs. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cit Small Business Lending Corp had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cit Small Business Lending Corp made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Who Lends Money to Small Businesses in Livingston, New Jersey SBA Participating Banks in New Jersey
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