Taxi Service Business Loans

Looking for business loans for taxi service? An SBA loan may be just what you've been looking for. This $892,000 taxi service loan was issued by a New Jersey bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Quincy, Massachusetts was able to borrow $892,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $669,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: TAXICABS
QUINCY, MA 02169

SBA Loan Lender

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

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4121 - Taxicabs

NAICS Code

485310 - Taxi Service

Loan Approval Date

6/2/2000

Loan Approval Gross Amount

$892,000

Loan Approval from the SBA

Of the total $892,000 loan amount, the SBA guaranteed $669,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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 Incubators

SBA 7A Banks in Livingston, New Jersey

New Jersey SBA 7A Lenders