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December 20, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Ice Cream And Frozen Dessert Manufacturing Loan | ||||
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Cit Small Business Lending Corp
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SBA Loan from Cit Small Business Lending Corp Helps Ice Cream And Frozen Dessert Manufacturing CompanyAn SBA loan from Cit Small Business Lending Corp typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Macedonia, Ohio business owner got a $266,100 loan. Getting a small business loan in Macedonia, Ohio was an essential business goal for this small business back in 2007 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 Ohio small business loan. SBA Loan Borrower COMPANY TYPE: ICE CREAM AND FROZEN DESSERT MANUFACTURING SBA Loan Lender CIT SMALL BUSINESS LENDING CORP 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 311520 - Ice Cream and Frozen Dessert Manufacturing Loan Approval Date 2/16/2007 Loan Approval Gross Amount $266,100 Loan Approval from the SBA Of the total $266,100 loan amount, the SBA guaranteed $199,575. More Information on This SBA Loan The borrower borrowed this money for a new 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 no employees. The loan application indicated that the funding would help generate 15 new jobs. Getting an SBA Loan For Your Business 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. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Advice on Getting a Small Business Loan Small Bank Loans in Livingston, New Jersey Find an SBA Lender in New Jersey
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