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November 15, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Radio, Television, And Electronics Stores Loan | ||||
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New Jersey SBA Banks
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Entrepreneur Works With Livingston, New Jersey Bank to Get an SBA LoanWant to talk with a Livingston, New Jersey bank about an SBA loan? Here's one Washington business loan, issued by a Livingston bank, that was approved by the SBA. Applying for an SBA loan with Cit Small Business Lending Corp worked out well for our friends at one local firm in Vancouver, Washington. The business was able to get an SBA loan for $235,000. Nice! SBA Loan Borrower COMPANY TYPE: RADIO, TELEVISION, AND ELECTRONICS STORES SBA Loan Lender CIT SMALL BUSINESS LENDING CORP Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 443112 - Radio, Television, and Electronics Stores Loan Approval Date 11/15/2006 Loan Approval Gross Amount $235,000 Loan Approval from the SBA Of the total $235,000 loan amount, the SBA guaranteed $176,250. 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 only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 1 existing job. Start the Process for Getting an SBA Loan Today! Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Good Banks for Small Business in Livingston, New Jersey
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