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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Sporting Goods Stores Loan | ||||
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Getting an SBA 7A Loan in Chanhassen, Minnesota
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Minnesota Business Loan Issued to Sporting Goods Stores CompanySmall business loans in Minnesota are tough to come by these days. We take a look at one Minnesota small business loan, provided by a New Jersey bank, that was approved by the SBA. By giving the right information to Cit Small Business Lending Corp, this Chanhassen, Minnesota business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES 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 451110 - Sporting Goods Stores Loan Approval Date 10/10/2001 Loan Approval Gross Amount $310,000 Loan Approval from the SBA Of the total $310,000 loan amount, the SBA guaranteed $232,500. 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 SBA loan documents indicated that the loan would help retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Borrowing Money from Friends and Family Banks in Livingston, New Jersey
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