Raising Money for Recreational Vehicle Dealers

With these business loans for recreational vehicle dealers, the SBA guarantees the lender that the loan will be repaid. This recreational vehicle dealers loan for $743,000 was given to a Virginia entrepreneur in 2002.

This business knew how to go about getting a business bank loan. Based in Seaford, Virginia, they applied for and were awarded 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: RECREATIONAL VEHICLE DEALERS
SEAFORD, VA 23692

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

441210 - Recreational Vehicle Dealers

Loan Approval Date

11/19/2002

Loan Approval Gross Amount

$743,000

Loan Approval from the SBA

Of the total $743,000 loan amount, the SBA guaranteed $557,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The loan application indicated that the loan would help generate 1 new job and retain 18 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Angel Investors

SBA Banks in Livingston, New Jersey

SBA Participating Banks in New Jersey