Entrepreneur Works With Livingston, New Jersey Bank to Get an SBA Loan

Get to know Livingston, New Jersey banks that specialize in business loans and know how to work with entrepreneurs. Cit Small Business Lending Corp is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Wallingford, Connecticut starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Cit Small Business Lending Corp. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: LANDSCAPING SERVICES
WALLINGFORD, CT 06492

SBA Loan Lender

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

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

561730 - Landscaping Services

Loan Approval Date

6/28/2002

Loan Approval Gross Amount

$293,000

Loan Approval from the SBA

Of the total $293,000 loan amount, the SBA guaranteed $219,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

We've showcased information on this loan to let you know that businesses like yours 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.

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