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

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

Finding a small business loan in Minnetonka, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a small company 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: SIGN MANUFACTURING
Minnetonka, MN 55343

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339950 - Sign Manufacturing

Loan Approval Date

4/24/2006

Loan Approval Gross Amount

$395,000

Loan Approval from the SBA

Of the total $395,000 loan amount, the SBA guaranteed $296,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 1 existing job.

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.

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