Livingston, New Jersey Bank Gives SBA Loan to Eating Places Company

Want to talk with a Livingston, New Jersey bank about a small business loan? Here's one Georgia 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 firm in Stone Mountain, Georgia. They got an SBA loan for $346,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
STONE MOUNTAIN, GA 30087

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

6/7/2000

Loan Approval Gross Amount

$346,000

Loan Approval from the SBA

Of the total $346,000 loan amount, the SBA guaranteed $259,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 26 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 26 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Cit Small Business Lending Corp so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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Best Livingston, New Jersey Banks for Small Business

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