Tennessee SBA Loan Issued to Fabricated Pipe And Pipe Fittings Company
TennesseeBank loans are available to Tennessee firms through the SBA. In this case, a New Jersey bank provides the loan.
By giving the right information to Cit Small Business Lending Corp, this Collierville, Tennessee business was able to get an SBA loan. To get this loan, the entrepreneur 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: FABRICATED PIPE AND PIPE FITTINGS
COLLIERVILLE, TN 38017
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
When it made this small business loan, this bank was part of the SBA's Certified Lenders Program (CLP). This program was created to give rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
3498 - Fabricated Pipe and Pipe Fittings
NAICS Code
332996 - Fabricated Pipe and Pipe Fitting Manufacturing
Loan Approval Date
7/28/2004
Loan Approval Gross Amount
$903,000
Loan Approval from the SBA
Of the total $903,000 loan amount, the SBA guaranteed $677,250.
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 65 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
Many small businesses receive loans backed by the U.S. Small Business Administration.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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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