Paint and Coating Manufacturing Small Business Loans

Looking for small business loans for paint and coating manufacturing? The SBA may be the answer. This $745,600 paint and coating manufacturing loan was issued by a New Jersey bank.

This company knew how to go about getting a business bank loan. Based in Smithville, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Cit Small Business Lending Corp, based in Livingston, New Jersey.

SBA Loan Borrower

COMPANY TYPE: PAINT AND COATING MANUFACTURING
SMITHVILLE, OH 44677

SBA Loan Lender

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

This lender issued this SBA bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

325510 - Paint and Coating Manufacturing

Loan Approval Date

3/9/2007

Loan Approval Gross Amount

$745,600

Loan Approval from the SBA

Of the total $745,600 loan amount, the SBA guaranteed $559,200.

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 32 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? 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:

Raising Venture Capital

Find an SBA Lender in Livingston, New Jersey

New Jersey SBA 7A Banks