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December 4, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Golden, Business Loans > Cit Small Business Lending Corp Golden Business Loans > Manufacturing Loan | ||||
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Business Loan from Cit Small Business Lending Corp
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Lakeville, Minnesota Business Gets SBA-Guaranteed Funding from Cit Small Business Lending CorpCit Small Business Lending Corp has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Cit Small Business Lending Corp, out of Golden, Colorado. The loan was granted and they received $1,333,000 to help grow their Lakeville, Minnesota business. SBA Loan Borrower COMPANY TYPE: MANUFACTURING SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 339999 - Manufacturing Loan Approval Date 9/12/2003 Loan Approval Gross Amount $1,333,000 Loan Approval from the SBA Of the total $1,333,000 loan amount, the SBA guaranteed $999,750. 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 35 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cit Small Business Lending Corp had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cit Small Business Lending Corp made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Banks for Small Business in Golden, Colorado
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