Business Loan from Cit Small Business Lending Corp Given to Remediation Services Company

Cit Small Business Lending Corp is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Jersey entrepreneur who tapped into the power of SBA loans.

This growing company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Cit Small Business Lending Corp, out of Livingston, New Jersey. The loan was granted and they received $1,362,000 to help grow their Clifton, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: REMEDIATION SERVICES
CLIFTON, NJ 07011

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

562910 - Remediation Services

Loan Approval Date

8/26/2005

Loan Approval Gross Amount

$1,362,000

Loan Approval from the SBA

Of the total $1,362,000 loan amount, the SBA guaranteed $1,021,500.

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 25 employees. The loan application indicated that the funding would help generate 25 new jobs.

Next Steps for Getting an SBA Loan

If you need business start up money in Clifton NJ, you ought to talk with a local Clifton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Clifton businesses.

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.

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