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November 15, 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 > Automotive Exhaust System Repair Loan | ||||
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Examples of Turlock SBA Loans
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Borrowing Money for Automotive Exhaust System RepairLooking for small business loans for automotive exhaust system repair? The SBA may be the answer. This $292,000 automotive exhaust system repair loan was issued by a Colorado bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Turlock, California was able to borrow $292,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $219,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE EXHAUST SYSTEM REPAIR SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This lender issued this SBA business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811112 - Automotive Exhaust System Repair Loan Approval Date 6/27/2002 Loan Approval Gross Amount $292,000 Loan Approval from the SBA Of the total $292,000 loan amount, the SBA guaranteed $219,000. 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 5 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cit Small Business Lending Corp had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cit Small Business Lending Corp made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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:
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