Exam Preparation and Tutoring Commercial Loans

With these commercial loans for exam preparation and tutoring, the SBA guarantees the lender that the loan will be repaid. This exam preparation and tutoring loan for $123,100 was given to a Texas entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clear Lake City, Texas was able to borrow $123,100 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $104,635 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: EXAM PREPARATION AND TUTORING
CLEAR LAKE CITY, TX 77058

SBA Loan Lender

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

This lender provides SBA guaranteed 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.

NAICS Code

611691 - Exam Preparation and Tutoring

Loan Approval Date

12/8/2005

Loan Approval Gross Amount

$123,100

Loan Approval from the SBA

Of the total $123,100 loan amount, the SBA guaranteed $104,635.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the borrowed money would help create 4 new jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Cit Small Business Lending Corp so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

SBIR Funding

Best Banks for Small Business in Livingston, New Jersey

SBA Lenders in New Jersey