Entrepreneur Works With Livingston, New Jersey Bank to Get an SBA Loan

A Livingston, New Jersey SBA loan can be yours. Learn how one firm got a $178,600 business loan from this New Jersey bank.

This loan to an entrepreneur is a good example of an SBA loan. Cit Small Business Lending Corp made the loan and the SBA guaranteed a portion of the loan. Many other Minnesota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
Long Lake, MN 55356

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

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

8/31/2007

Loan Approval Gross Amount

$178,600

Loan Approval from the SBA

Of the total $178,600 loan amount, the SBA guaranteed $133,950.

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 no employees. The loan application indicated that the borrowed money would help generate 3 new jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Long Lake MN, you ought to talk with a local Long Lake SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Long Lake businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Cit Small Business Lending Corp that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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