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January 26, 2025 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Floor Covering Stores Loan | ||||
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SBA Lenders New Jersey
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Livingston, New Jersey Bank Lends Money to Floor Covering Stores Company in Halfmoon, New YorkA Livingston, New Jersey SBA loan can be yours. Learn how one firm got a $254,100 business loan from this New Jersey bank. This loan to an entrepreneur is a good example of an SBA loan. Cit Small Business Lending Corp made the loan and the SBA guaranteed a portion of the loan. Many other New York entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: FLOOR COVERING STORES SBA Loan Lender CIT SMALL BUSINESS LENDING CORP Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 442210 - Floor Covering Stores Loan Approval Date 2/20/2007 Loan Approval Gross Amount $254,100 Loan Approval from the SBA Of the total $254,100 loan amount, the SBA guaranteed $190,575. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help retain 4 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $254,100 loan. Remember, anyone can do it... so why not you? 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: Best Livingston, New Jersey Banks for Small Business
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