Cit Small Business Lending Corp SBA Loan to Gasoline Service Stations Company

An SBA loan from Cit Small Business Lending Corp typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Richardson, Texas business owner got a $1,274,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Richardson, Texas was able to borrow $1,274,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $749,992 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
RICHARDSON, TX 75080

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

NAICS Code

447190 - Gasoline Stations

Loan Approval Date

4/25/2000

Loan Approval Gross Amount

$1,274,000

Loan Approval from the SBA

Of the total $1,274,000 loan amount, the SBA guaranteed $749,992.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help generate 3 new jobs.

Getting an SBA Loan For Your Business

If you are raising money in Richardson TX, you ought to talk with a local Richardson SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Richardson businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Cit Small Business Lending Corp so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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