Cit Small Business Lending Corp Gives Small Business Loan to Retail Bakeries Company

TexasBusiness loans are available to Texas business owners through the SBA. In this case, a New Jersey bank provides the loan.

This company, based in Round Rock, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Cit Small Business Lending Corp. We've got the inside scoop on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
Round Rock, TX 78664

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311811 - Retail Bakeries

Loan Approval Date

3/28/2006

Loan Approval Gross Amount

$254,000

Loan Approval from the SBA

Of the total $254,000 loan amount, the SBA guaranteed $190,500.

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 4 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Determining Proper Capital Structure for a Business

SBA Banks in Livingston, New Jersey

SBA New Jersey Lenders