Raising Money for Ornamental and Architectural Metal Work Manufacturing

With these bank loans for ornamental and architectural metal work manufacturing, the SBA guarantees the lender that the loan will be repaid. This ornamental and architectural metal work manufacturing loan for $440,000 was given to a New York entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Rochelle, New York was able to borrow $440,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $330,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: ORNAMENTAL AND ARCHITECTURAL METAL WORK MANUFACTURING
NEW ROCHELLE, NY 10801

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

332323 - Ornamental and Architectural Metal Work Manufacturing

Loan Approval Date

11/23/2004

Loan Approval Gross Amount

$440,000

Loan Approval from the SBA

Of the total $440,000 loan amount, the SBA guaranteed $330,000.

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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in New Rochelle NY, you ought to talk with a local New Rochelle SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Rochelle businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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