Cit Small Business Lending Corp Gives Business Loan to Cutting Tool And Machine Tool Accessory Manufacturing Company

Business loans in Pennsylvania are tough to come by these days. We take a look at one Pennsylvania business loan, provided by a New Jersey bank, that was approved by the SBA.

Getting a small business loan in New Kingstown, Pennsylvania was a top priority for this SBA-financed company back in 2005 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 Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: CUTTING TOOL AND MACHINE TOOL ACCESSORY MANUFACTURING
New Kingstown, PA 17072

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This lender provides SBA commercial 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

333515 - Cutting Tool and Machine Tool Accessory Manufacturing

Loan Approval Date

12/12/2005

Loan Approval Gross Amount

$1,144,000

Loan Approval from the SBA

Of the total $1,144,000 loan amount, the SBA guaranteed $858,000.

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 38 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 38 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in New Kingstown PA, you ought to talk with a local New Kingstown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Kingstown businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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