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November 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Golden, Business Loans > Cit Small Business Lending Corp Golden Business Loans > Hotels And Motels Loan | ||||
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SBA Loan from Cit Small Business Lending Corp
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Tehachapi, California Business Gets SBA-Guaranteed Funding from Cit Small Business Lending CorpAn SBA loan from Cit Small Business Lending Corp typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Tehachapi, California business owner got a $1,330,000 loan. This growing company knew how to go about getting a business bank loan. Based in Tehachapi, California, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Cit Small Business Lending Corp, based in Golden, Colorado. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 1/5/2004 Loan Approval Gross Amount $1,330,000 Loan Approval from the SBA Of the total $1,330,000 loan amount, the SBA guaranteed $997,500. 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 29 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. 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. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Where to Get an SBA Loan in Golden, Colorado Getting an SBA Loan in Colorado
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