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November 14, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Children's And Infants' Clothing Stores Loan | ||||
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Business Loan from Cit Small Business Lending Corp
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Business Loan from Cit Small Business Lending Corp Given to Children's And Infants' Clothing Stores CompanyCit Small Business Lending Corp has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them. This growing company knew how to go about getting a business bank loan. Based in Round Rock, Texas, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Cit Small Business Lending Corp, based in Livingston, New Jersey. SBA Loan Borrower COMPANY TYPE: CHILDREN'S AND INFANTS' CLOTHING STORES SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448130 - Children's and Infants' Clothing Stores Loan Approval Date 6/18/2002 Loan Approval Gross Amount $184,000 Loan Approval from the SBA Of the total $184,000 loan amount, the SBA guaranteed $138,000. 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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Small Business Banks in Livingston, New Jersey Find an SBA Lender in New Jersey
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