 |
 |
November 24, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Arizona Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Recreational Vehicle Dealers Loan | ||||
 |
||||
Cit Small Business Lending Corp
|
||||
 |
Cit Small Business Lending Corp SBA Loan to Recreational Vehicle Dealers CompanyAn 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 Tucson, Arizona business owner got a $1,000,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tucson, Arizona was able to borrow $1,000,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $750,000 of this Arizona small business loan. SBA Loan Borrower COMPANY TYPE: RECREATIONAL VEHICLE DEALERS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This lender provides SBA business loans 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 441210 - Recreational Vehicle Dealers Loan Approval Date 4/5/2002 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $750,000. 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 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Borrowing Money from Friends and Family Find an SBA Lender in Livingston, New Jersey Browse All Business Loan Sources for New Jersey
|
|
||
|
||||
|
|
||||