Business Loan from Cit Small Business Lending Corp Given to Lessors Of Nonresidential Buildings Company

Cit Small Business Lending Corp is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Ohio entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Salem, Ohio was an essential business goal for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Cit Small Business Lending Corp, operating out of Livingston, New Jersey. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS
SALEM, OH 44460

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.

NAICS Code

531120 - Lessors of Nonresidential Buildings

Loan Approval Date

11/30/2007

Loan Approval Gross Amount

$806,000

Loan Approval from the SBA

Of the total $806,000 loan amount, the SBA guaranteed $604,500.

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 19 employees. The SBA loan application for the borrower indicated that the loan would help retain 19 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This company got an SBA loan. You can too! Maybe you want money for start up business? 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.

Where to Get an SBA Loan in Livingston, New Jersey

SBA New Jersey Banks

Cit Small Business Lending Corp Small Business Salem

Business Loan from Cit Small Business Lending Corp Given to Lessors Of Nonresidential Buildings Company