Store Retailers Bank Loans
Looking for bank loans for store retailers? Try the SBA. This $407,000 store retailers loan was issued by a New Jersey bank.
This small firm knew how to go about getting a business bank loan. Based in Hawkinsville, Georgia, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Cit Small Business Lending Corp, based in Livingston, New Jersey.
SBA Loan Borrower
COMPANY TYPE: STORE RETAILERS
HAWKINSVILLE, GA 31036
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
This lender provides SBA 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
453998 - Store Retailers
Loan Approval Date
3/5/2007
Loan Approval Gross Amount
$407,000
Loan Approval from the SBA
Of the total $407,000 loan amount, the SBA guaranteed $305,250.
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 18 employees. This SBA loan request indicated that the loan would help retain 18 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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:
Small Business Credit Cards
Where to Get an SBA Loan in Livingston, New Jersey
New Jersey SBA Bank Lenders