Cit Small Business Lending Corp SBA Loan to Grocery Stores Company

Looking to get an Ohio SBA loan? Here's one Ohio business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lorain, Ohio was able to borrow $1,440,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $749,952 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
LORAIN, OH 44052

SBA Loan Lender

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

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

Loan Approval Date

6/5/2000

Loan Approval Gross Amount

$1,440,000

Loan Approval from the SBA

Of the total $1,440,000 loan amount, the SBA guaranteed $749,952.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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