Exam Preparation and Tutoring Commercial Loans

With these commercial loans for exam preparation and tutoring, the SBA guarantees the lender that the loan will be repaid. This exam preparation and tutoring loan for $320,800 was given to a Colorado entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Longmont, Colorado was able to borrow $320,800 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $240,600 of this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: EXAM PREPARATION AND TUTORING
LONGMONT, CO 80501

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611691 - Exam Preparation and Tutoring

Loan Approval Date

8/31/2006

Loan Approval Gross Amount

$320,800

Loan Approval from the SBA

Of the total $320,800 loan amount, the SBA guaranteed $240,600.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This SBA loan was for $320,800. How would you spend $320,800 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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