Livingston, New Jersey Lender Lends Money to Gift, Novelty, And Souvenir Stores Company

A Livingston, New Jersey small business loan can be yours. Learn how a company got a $167,000 business loan from this New Jersey bank.

This loan to an entrepreneur is a good example of an SBA loan. Cit Small Business Lending Corp made the loan and the SBA guaranteed a portion of the loan. Many other Ohio entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
DRESDEN, OH 43821

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

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

3/19/2003

Loan Approval Gross Amount

$167,000

Loan Approval from the SBA

Of the total $167,000 loan amount, the SBA guaranteed $125,250.

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 31 employees. The SBA loan application for the borrower indicated that the loan would help generate 12 new jobs and retain 19 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Dresden or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

SBIR Funding

SBA Banks in Livingston, New Jersey

Getting a Business Loan in New Jersey