Entrepreneur Works With Livingston, New Jersey Bank to Get an SBA Loan

Thinking about meeting with a Livingston, New Jersey bank about an SBA loan? Here's one Louisiana business loan, issued by a Livingston bank, that was approved by the SBA.

Applying for an SBA loan with Cit Small Business Lending Corp worked out well for our friends at one local firm in Covington, Louisiana. The business was able to get an SBA loan for $560,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
COVINGTON, LA 70433

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

442110 - Furniture Stores

Loan Approval Date

7/19/2005

Loan Approval Gross Amount

$560,000

Loan Approval from the SBA

Of the total $560,000 loan amount, the SBA guaranteed $420,000.

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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Cit Small Business Lending Corp that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Strategic Investors

SBA Participating Banks in Livingston, New Jersey

New Jersey SBA 7A Banks