SBA Loan from Citibank Helps Luggage And Leather Goods Stores Company

Citibank has a track record as a leading provider of SBA loans. Find out how this New Jersey entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ridgefield, New Jersey was able to borrow $100,000 from Citibank. The SBA made the loan possible by guaranteeing $50,000 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: LUGGAGE AND LEATHER GOODS STORES
RIDGEFIELD, NJ 07660

SBA Loan Lender

CITIBANK
3900 PARADISE RD, STE 127
LAS VEGAS, NV 89109

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

448320 - Luggage and Leather Goods Stores

Loan Approval Date

6/14/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 6 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Ridgefield NJ, you ought to talk with a local Ridgefield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ridgefield businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citibank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citibank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Getting a Small Business Loan

SBA Participating Banks in Las Vegas, Nevada

Find an SBA Lender in Nevada