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May 1, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Motor Vehicle Body Manufacturing Loan | ||||
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Banks in Virginia
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Getting an SBA Loan for Motor Vehicle Body ManufacturingLooking for SBA loans for motor vehicle body manufacturing? Talk to a banker who works with the SBA. This $919,000 motor vehicle body manufacturing loan was issued by a New Jersey bank. This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Cit Small Business Lending Corp, out of Livingston, New Jersey. The loan was granted and they received $919,000 to help grow their Vinton, Virginia business. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE BODY MANUFACTURING 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 336211 - Motor Vehicle Body Manufacturing Loan Approval Date 7/12/2002 Loan Approval Gross Amount $919,000 Loan Approval from the SBA Of the total $919,000 loan amount, the SBA guaranteed $689,250. 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 application for the borrower indicated that the loan would help retain 25 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to raise money for a company in Vinton VA, you ought to talk with a local Vinton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Vinton businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 7A Banks in Livingston, New Jersey
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