SBA Loan from Cit Small Business Lending Corp Helps Specialty Trade Contractors Company

An SBA loan from Cit Small Business Lending Corp typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Clackamas, Oregon business owner got a $1,215,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clackamas, Oregon was able to borrow $1,215,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $911,250 of this Oregon small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
Clackamas, OR 97015

SBA Loan Lender

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

This lender provides SBA guaranteed bank 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

238990 - Specialty Trade Contractors

Loan Approval Date

1/31/2008

Loan Approval Gross Amount

$1,215,000

Loan Approval from the SBA

Of the total $1,215,000 loan amount, the SBA guaranteed $911,250.

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 18 employees. The SBA loan documents indicated that the loan would help retain 18 existing jobs.

Getting an SBA Loan For Your Business

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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