Livingston, New Jersey Lender Lends Money to Floor Covering Stores Company

Find Livingston, New Jersey banks that specialize in small business loans and know how to work with entrepreneurs. Cit Small Business Lending Corp is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Mccalla, Alabama starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Cit Small Business Lending Corp. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
MCCALLA, AL 35111

SBA Loan Lender

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

This debt financing was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending history and are well trained in SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5713 - Floor Covering Stores

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

5/25/2001

Loan Approval Gross Amount

$1,321,000

Loan Approval from the SBA

Of the total $1,321,000 loan amount, the SBA guaranteed $990,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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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