Business Loan from Cit Small Business Lending Corp Given to New Car Dealers Company

Cit Small Business Lending Corp has a track record as a leading provider of SBA loans. Find out how this West Virginia entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Charles Town, West Virginia was able to borrow $1,450,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $999,992 of this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: NEW CAR DEALERS
CHARLES TOWN, WV 25414

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

441110 - New Car Dealers

Loan Approval Date

2/26/2002

Loan Approval Gross Amount

$1,450,000

Loan Approval from the SBA

Of the total $1,450,000 loan amount, the SBA guaranteed $999,992.

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 20 employees. The loan application indicated that the loan would help retain 20 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Charles Town WV, you ought to talk with a local Charles Town SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Charles Town businesses.

This SBA loan was for $1,450,000. How would you spend $1,450,000 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.

Related Links:

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SBA New Jersey Banks