Temple, Texas Entrepreneur Gets a Bank Loan

Would a Texas bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this New Jersey bank, which offers SBA loans to Texas entrepreneurs.

Getting a small business loan in Temple, Texas was a top priority for this loan applicant back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Cit Small Business Lending Corp. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
TEMPLE, TX 76501

SBA Loan Lender

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

This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/14/2003

Loan Approval Gross Amount

$220,000

Loan Approval from the SBA

Of the total $220,000 loan amount, the SBA guaranteed $165,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. This SBA loan request indicated that the loan would help retain 15 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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