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December 24, 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 > General Merchandise Stores Loan | ||||
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Cit Small Business Lending Corp
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Brandy Station, Virginia Business Gets SBA-Guaranteed Funding from Cit Small Business Lending CorpCit Small Business Lending Corp has a track record as a leading provider of SBA loans. Find out how this Virginia entrepreneur received an SBA loan from them. This growing company knew how to go about getting a business bank loan. Based in Brandy Station, Virginia, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Cit Small Business Lending Corp, based in Livingston, New Jersey. SBA Loan Borrower COMPANY TYPE: GENERAL MERCHANDISE STORES SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5399 - General Merchandise Stores Loan Approval Date 4/19/2000 Loan Approval Gross Amount $677,600 Loan Approval from the SBA Of the total $677,600 loan amount, the SBA guaranteed $508,200. 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 loan application indicated that the loan would help generate 1 new job and retain 3 existing jobs. Getting an SBA Loan For Your Business Although it's called an SBA loan, you 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. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Small Business Banks in Livingston, New Jersey
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