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May 4, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Fabricated Metal Product Manufacturing Loan | ||||
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Who Can Get a Business Loan in Powell, Tennessee?
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Small Business Loans for Fabricated Metal Product ManufacturingWith these small business loans for fabricated metal product manufacturing, the SBA guarantees the lender that the loan will be repaid. This fabricated metal product manufacturing loan for $822,000 was given to a Tennessee entrepreneur in 2006. Getting a small business loan in Powell, Tennessee was important for this company back in 2006 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 Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: FABRICATED METAL PRODUCT MANUFACTURING SBA Loan Lender CIT SMALL BUSINESS LENDING CORP Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332999 - Fabricated Metal Product Manufacturing Loan Approval Date 9/14/2006 Loan Approval Gross Amount $822,000 Loan Approval from the SBA Of the total $822,000 loan amount, the SBA guaranteed $616,500. 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 25 employees. The SBA loan documents indicated that the loan would help retain 25 existing jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $822,000 loan. Remember, you control your own destiny. 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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