Cit Small Business Lending Corp Gives Bank Loan to Fitness And Recreational Sports Centers Company
Would a New Jersey SBA loan help your business get to the next level? If so, you may want to talk with this New Jersey bank, which offers SBA loans to New Jersey entrepreneurs.
By giving the right information to Cit Small Business Lending Corp, this Medford, New Jersey business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
MEDFORD, NJ 08055
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
713940 - Fitness and Recreational Sports Centers
Loan Approval Date
4/24/2007
Loan Approval Gross Amount
$194,500
Loan Approval from the SBA
Of the total $194,500 loan amount, the SBA guaranteed $145,875.
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 33 employees. The SBA loan documents indicated that the loan would help generate 28 new jobs and retain 33 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
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.
Related Links:
The Friends and Family Network
Small Business Banks in Livingston, New Jersey
SBA New Jersey Banks