SBA Loan from Cit Small Business Lending Corp Helps Payroll Services Company

An SBA loan from Cit Small Business Lending Corp typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Andover, New Hampshire business owner got a $880,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Andover, New Hampshire was able to borrow $880,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $660,000 of this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: PAYROLL SERVICES
ANDOVER, NH 03216

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

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

541214 - Payroll Services

Loan Approval Date

6/21/2006

Loan Approval Gross Amount

$880,000

Loan Approval from the SBA

Of the total $880,000 loan amount, the SBA guaranteed $660,000.

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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

This SBA loan was for $880,000. How would you spend $880,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

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