Getting an SBA Loan for Musical Instrument and Supplies Stores

Looking for business loans for musical instrument and supplies stores? Try the SBA. This $1,169,000 musical instrument and supplies stores loan was issued by a New Jersey bank.

This business knew how to go about getting a business bank loan. Based in Greensboro, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Cit Small Business Lending Corp, based in Livingston, New Jersey.

SBA Loan Borrower

COMPANY TYPE: MUSICAL INSTRUMENT AND SUPPLIES STORES
GREENSBORO, NC 27401

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

451140 - Musical Instrument and Supplies Stores

Loan Approval Date

10/21/2003

Loan Approval Gross Amount

$1,169,000

Loan Approval from the SBA

Of the total $1,169,000 loan amount, the SBA guaranteed $876,750.

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 11 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a company in Greensboro NC, you ought to talk with a local Greensboro SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Greensboro businesses.

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 $1,169,000 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.

Related Links:

Alternative Financing

Who Lends Money to Small Businesses in Livingston, New Jersey

Find an SBA Lender in New Jersey