SBA Loans for Electronic Component Manufacturing

Looking for SBA loans for electronic component manufacturing? The SBA may be the answer. This $398,000 electronic component manufacturing loan was issued by a New Jersey bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Burnet, Texas was able to borrow $398,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $298,500 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRONIC COMPONENT MANUFACTURING
BURNET, TX 78611

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

334419 - Electronic Component Manufacturing

Loan Approval Date

4/11/2006

Loan Approval Gross Amount

$398,000

Loan Approval from the SBA

Of the total $398,000 loan amount, the SBA guaranteed $298,500.

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 13 employees. The loan application indicated that the loan would help create 13 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

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

This SBA loan was for $398,000. How would you spend $398,000 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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