Florida SBA Loan Issued to Truss Manufacturing Company
Looking to get a Florida business loan? This Florida entrepreneur got a business loan, provided by a New Jersey bank that works with the SBA to help small business owners.
Getting a small business loan in Wewahitchka, Florida was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Cit Small Business Lending Corp. Here are the details on this Florida small business loan.
SBA Loan Borrower
COMPANY TYPE: TRUSS MANUFACTURING
WEWAHITCHKA, FL 32465
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to American small businesses.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
321214 - Truss Manufacturing
Loan Approval Date
9/19/2003
Loan Approval Gross Amount
$1,168,000
Loan Approval from the SBA
Of the total $1,168,000 loan amount, the SBA guaranteed $876,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 68 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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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