Cit Small Business Lending Corp SBA Loan to No Industry Type Specified Company
Searching for an Arizona business loan? Here's one Arizona business loan that was approved by the SBA.
This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Cit Small Business Lending Corp, out of Livingston, New Jersey. The loan was granted and they received $440,000 to help grow their Phoenix, Arizona business.
SBA Loan Borrower
COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
PHOENIX, AZ 85037
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
This lender provides SBA 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.
Loan Approval Date
3/9/2000
Loan Approval Gross Amount
$440,000
Loan Approval from the SBA
Of the total $440,000 loan amount, the SBA guaranteed $330,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 28 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
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:
Strategic Investors
Banks in Livingston, New Jersey
New Jersey SBA 7A Lenders