Cit Small Business Lending Corp Gives SBA Loan to Chemical And Allied Products Wholesalers Company

Bank loans in Washington are hard to find these days. We take a look at one Washington bank loan, provided by a Colorado bank, that was approved by the SBA.

Getting a small business loan in Kirkland, Washington was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Cit Small Business Lending Corp. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: CHEMICAL AND ALLIED PRODUCTS WHOLESALERS
KIRKLAND, WA 98034

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1526 COLE BLVD., BLDG #3, STE
GOLDEN, CO 80401

This small business loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422690 - Chemical and Allied Products Wholesalers

Loan Approval Date

8/18/2004

Loan Approval Gross Amount

$499,000

Loan Approval from the SBA

Of the total $499,000 loan amount, the SBA guaranteed $374,250.

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 20 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Cit Small Business Lending Corp and they will explain how you can get an SBA loan for your company.

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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