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May 2, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Landscaping Services Loan | ||||
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New Jersey Bank SBA Loans
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Business Loan from Cit Small Business Lending Corp Given to Landscaping Services CompanyAn 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, a Northfield, Ohio business owner got a $1,430,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Northfield, Ohio was able to borrow $1,430,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $1,072,500 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: LANDSCAPING SERVICES 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 561730 - Landscaping Services Loan Approval Date 9/28/2004 Loan Approval Gross Amount $1,430,000 Loan Approval from the SBA Of the total $1,430,000 loan amount, the SBA guaranteed $1,072,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 15 existing jobs. Getting an SBA Loan For Your Business 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. 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: SBA Participating Banks in Livingston, New Jersey
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