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May 5, 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 > Automotive Repair And Maintenance Loan | ||||
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How Do We Get a Business Loan in Woburn, Massachusetts?
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Getting an SBA Loan for Automotive Repair and MaintenanceLooking for commercial loans for automotive repair and maintenance? Try the SBA. This $777,000 automotive repair and maintenance loan was issued by a New Jersey bank. This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Cit Small Business Lending Corp, out of Livingston, New Jersey. The loan was granted and they received $777,000 to help grow their Woburn, Massachusetts business. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811198 - Automotive Repair and Maintenance Loan Approval Date 10/30/2003 Loan Approval Gross Amount $777,000 Loan Approval from the SBA Of the total $777,000 loan amount, the SBA guaranteed $582,750. 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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs. Next Steps for Getting an SBA Loan If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding. 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: Raising VC Money for Social Networking Companies Banks in Livingston, New Jersey Browse All Business Loan Sources for New Jersey
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