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

Get SBA loans from a Livingston, New Jersey bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Cit Small Business Lending Corp is a Livingston, New Jersey small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Pennsylvania company.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
Cheltenham, PA 19012

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

11/12/2007

Loan Approval Gross Amount

$972,000

Loan Approval from the SBA

Of the total $972,000 loan amount, the SBA guaranteed $729,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 28 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 28 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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:

Business Credit Evaluation

Small Business Banks in Livingston, New Jersey

SBA New Jersey Lenders