Entrepreneur Works With Livingston, New Jersey Bank to Get an SBA Loan
Get to know Livingston, New Jersey banks that specialize in business 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 Portland, Oregon starts with an understanding of who else has gotten loans in the area. In this case, a local business 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: EQUIPMENT RENTAL AND LEASING
PORTLAND, OR 97222
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.
SIC Code
7359 - Equipment Rental and Leasing
NAICS Code
532490 - Commercial and Industrial Machinery and Equipment Rental and Leasing
Loan Approval Date
5/11/2000
Loan Approval Gross Amount
$850,000
Loan Approval from the SBA
Of the total $850,000 loan amount, the SBA guaranteed $637,500.
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 6 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 1 existing job.
Great, But How Can I Get an SBA Loan for My Business?
Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.
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:
Business Credit Evaluation
Small Business Banks in Livingston, New Jersey
New Jersey SBA 7A Lenders