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

Want to talk with a Livingston, New Jersey bank about an SBA loan? Here's one Oregon business loan, issued by a Livingston bank, that was approved by the SBA.

Applying for an SBA loan with Cit Small Business Lending Corp worked out well for our friends at one local business in Portland, Oregon. They received an SBA loan for $465,000. Great job!

SBA Loan Borrower

COMPANY TYPE: QUICK PRINTING
Portland, OR 97201

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.

NAICS Code

323114 - Quick Printing

Loan Approval Date

11/27/2006

Loan Approval Gross Amount

$465,000

Loan Approval from the SBA

Of the total $465,000 loan amount, the SBA guaranteed $348,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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.

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:

The Friends and Family Network

SBA Participating Banks in Livingston, New Jersey

SBA Lenders in New Jersey