Cit Small Business Lending Corp Gives SBA Loan to Commercial And Industrial Machinery And Equipment Rental And Leasing Company
Want a Texas SBA loan? This Texas entrepreneur got an SBA loan, provided by a New Jersey bank that works with the SBA to help small business owners.
You can learn something about getting a small business loan in Austin, Texas by studying this loan to a local business, made back in 2006. Banks like Cit Small Business Lending Corp may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT RENTAL AND LEASING
AUSTIN, TX 78744
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
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
532490 - Commercial and Industrial Machinery and Equipment Rental and Leasing
Loan Approval Date
8/25/2006
Loan Approval Gross Amount
$565,000
Loan Approval from the SBA
Of the total $565,000 loan amount, the SBA guaranteed $423,750.
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 7 employees. The loan application indicated that the loan would help generate 7 new jobs.
Next Steps for Getting an SBA Loan
Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $565,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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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