Borrowing Money for Tradebinding and Related Work

With these bank loans for tradebinding and related work, the SBA guarantees the lender that the loan will be repaid. This tradebinding and related work loan for $1,575,000 was given to a Florida entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fort Lauderdale, Florida was able to borrow $1,575,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $1,181,250 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: TRADEBINDING AND RELATED WORK
FORT LAUDERDALE, FL 33309

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

323121 - Tradebinding and Related Work

Loan Approval Date

6/15/2004

Loan Approval Gross Amount

$1,575,000

Loan Approval from the SBA

Of the total $1,575,000 loan amount, the SBA guaranteed $1,181,250.

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 17 employees. The SBA loan documents indicated that the loan would help retain 17 existing jobs.

Getting an SBA Loan For Your Business

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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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