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December 21, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Limited-Service Restaurants Loan | ||||
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Best Banks That Lend to Easton Business Owners
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Firm Gets a Maryland Small Business LoanMarylandSmall business loans are available to Maryland small business owners through the SBA. In this case, a New Jersey bank provides the loan. By giving the right information to Cit Small Business Lending Corp, this Easton, Maryland business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This lender provides SBA small business 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 722211 - Limited-Service Restaurants Loan Approval Date 7/9/2007 Loan Approval Gross Amount $559,500 Loan Approval from the SBA Of the total $559,500 loan amount, the SBA guaranteed $419,625. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: How Much Venture Capital Is There? SBA 7A Banks in Livingston, New Jersey
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