SBA Loan from Cit Small Business Lending Corp Helps Real Estate Agents And Brokers Company
Cit Small Business Lending Corp is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Illinois entrepreneur who tapped into the power of SBA loans.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Galena, Illinois was able to borrow $228,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $171,000 of this Illinois small business loan.
SBA Loan Borrower
COMPANY TYPE: REAL ESTATE AGENTS AND BROKERS
GALENA, IL 61036
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
531210 - Real Estate Agents and Brokers
Loan Approval Date
3/18/2004
Loan Approval Gross Amount
$228,000
Loan Approval from the SBA
Of the total $228,000 loan amount, the SBA guaranteed $171,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 14 employees. This SBA loan request indicated that the loan would help retain 14 existing jobs.
Getting an SBA Loan For Your Business
Many small businesses receive loans backed by the U.S. Small Business Administration.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $228,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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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