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December 23, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Beer, Wine, And Liquor Stores Loan | ||||
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Banks in Pennsylvania
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Borrowing Money for Beer, Wine, and Liquor StoresLooking for bank loans for beer, wine, and liquor stores? An SBA loan may be just what you've been looking for. This $994,000 beer, wine, and liquor stores loan was issued by a New Jersey bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Philadelphia, Pennsylvania was able to borrow $994,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $745,500 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: BEER, WINE, AND LIQUOR STORES SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445310 - Beer, Wine, and Liquor Stores Loan Approval Date 6/24/2004 Loan Approval Gross Amount $994,000 Loan Approval from the SBA Of the total $994,000 loan amount, the SBA guaranteed $745,500. 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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small 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. Related Links: Determining Proper Capital Structure for a Business SBA 7A Lenders in Livingston, New Jersey
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