Financing for Cut Stone and Stone Product Manufacturing

With these loans for cut stone and stone product manufacturing, the SBA guarantees the lender that the loan will be repaid. This cut stone and stone product manufacturing loan for $300,000 was given to a Georgia entrepreneur in 2000.

Getting a small business loan in Lawrenceville, Georgia was important for this growing firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Cit Small Business Lending Corp, operating out of Livingston, New Jersey. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: CUT STONE AND STONE PRODUCT MANUFACTURING
LAWRENCEVILLE, GA 30244

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

327991 - Cut Stone and Stone Product Manufacturing

Loan Approval Date

11/9/2000

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 10 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 9 existing jobs.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you 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.

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.

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