SBA Loan from Cit Small Business Lending Corp Helps Child Day Care Services Company

Cit Small Business Lending Corp is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Arizona entrepreneur who tapped into the power of SBA loans.

This small firm knew how to go about getting a business bank loan. Based in Tucson, Arizona, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Cit Small Business Lending Corp, based in Livingston, New Jersey.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
TUCSON, AZ 85705

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.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

9/27/2004

Loan Approval Gross Amount

$188,000

Loan Approval from the SBA

Of the total $188,000 loan amount, the SBA guaranteed $141,000.

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 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Tucson AZ, you ought to talk with a local Tucson SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Tucson businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $188,000 loan. Remember, feel the fear, and do it anyway.

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:

Business Line of Credit

Where to Get an SBA Loan in Livingston, New Jersey

Find an SBA Lender in New Jersey