Business Loan from Cit Small Business Lending Corp Given to Rolled Steel Shape Manufacturing Company

Cit Small Business Lending Corp and the SBA work together to get business loans for growing small businesses. Here's an example of how a Virginia entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Lynchburg, Virginia was an essential business goal for this company 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 Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: ROLLED STEEL SHAPE MANUFACTURING
LYNCHBURG, VA 24501

SBA Loan Lender

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

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

331221 - Rolled Steel Shape Manufacturing

Loan Approval Date

12/8/2000

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

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 35 employees. The loan application indicated that the loan would help generate 11 new jobs and retain 24 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Lynchburg or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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