Entrepreneur Works With Livingston, New Jersey Bank to Get an SBA Loan
Get to know Livingston, New Jersey banks that specialize in small business loans and know how to work with entrepreneurs. Cit Small Business Lending Corp is one such bank, as evidenced by this SBA loan to a growing company.
Finding a small business loan in Sedro Woolley (corporate Name, Washington starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Cit Small Business Lending Corp. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SEDRO WOOLLEY (CORPORATE NAME, WA 98284
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
722211 - Limited-Service Restaurants
Loan Approval Date
11/8/2002
Loan Approval Gross Amount
$313,000
Loan Approval from the SBA
Of the total $313,000 loan amount, the SBA guaranteed $234,750.
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 22 employees. This SBA loan request indicated that the loan would help retain 22 existing jobs.
Getting an SBA Loan For Your Business
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cit Small Business Lending Corp had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cit Small Business Lending Corp 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:
The Friends and Family Network
SBA Approved Banks in Livingston, New Jersey
SBA Lenders in New Jersey