Cit Small Business Lending Corp Gives Bank Loan to Computer Systems Design Services Company

Looking to get a Colorado bank loan? This Colorado entrepreneur got a bank loan, provided by a New Jersey bank that works with the SBA to help small business owners.

This company, based in Denver, Colorado, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Cit Small Business Lending Corp. We've got the inside scoop on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER SYSTEMS DESIGN SERVICES
DENVER, CO 80204

SBA Loan Lender

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

This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541512 - Computer Systems Design Services

Loan Approval Date

9/12/2001

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 2 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

Related Links:

Business Incubators

SBA Banks in Livingston, New Jersey

New Jersey SBA 7A Banks