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May 4, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Business Credit Institutions Loan | ||||
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Business Loans for Quincy Small Business Owners
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Nondepository Credit Intermediation Small Business LoansWith these small business loans for nondepository credit intermediation, the SBA guarantees the lender that the loan will be repaid. This nondepository credit intermediation loan for $500,000 was given to a Massachusetts entrepreneur in 2001. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Quincy, Massachusetts was able to borrow $500,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $375,000 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: BUSINESS CREDIT INSTITUTIONS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 6159 - Business Credit Institutions NAICS Code 522298 - Nondepository Credit Intermediation Loan Approval Date 5/3/2001 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. 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 4 employees. This SBA loan request did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Obtaining Funding - How to Decide How Much to Raise Where to Get an SBA Loan in Livingston, New Jersey
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