Painting and Wall Covering Loans

With these loans for painting and wall covering, the SBA guarantees the lender that the loan will be repaid. This painting and wall covering loan for $297,000 was given to a California entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Menlo Park, California was able to borrow $297,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $222,750 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: PAINTING AND WALL COVERING
MENLO PARK, CA 94025

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

235210 - Painting and Wall Covering

Loan Approval Date

5/14/2003

Loan Approval Gross Amount

$297,000

Loan Approval from the SBA

Of the total $297,000 loan amount, the SBA guaranteed $222,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. The loan application indicated that the loan would help generate 1 new job and retain 11 existing jobs.

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Cit Small Business Lending Corp and they will explain how you can get an SBA loan for your company.

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:

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Small Business Banks in Livingston, New Jersey

Getting an SBA Loan in New Jersey