Livingston, New Jersey Bank Lends Money to Office Equipment Company in Senatobia, Mississippi

Want to talk with a Livingston, New Jersey bank about an SBA loan? Here's one Mississippi business loan, issued by a Livingston bank, that was approved by the SBA.

Applying for an SBA loan with Cit Small Business Lending Corp worked out well for our friends at one local business in Senatobia, Mississippi. They received an SBA loan for $350,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: OFFICE EQUIPMENT
SENATOBIA, MS 38668

SBA Loan Lender

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

At the time this loan was granted, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program was created to offer fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5044 - Office Equipment

NAICS Code

423420 - Office Equipment Merchant Wholesalers

Loan Approval Date

12/29/2003

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 10 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This SBA loan was for $350,000. How would you spend $350,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

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