Livingston, New Jersey Lender Lends Money to Rope, Cordage, And Twine Mills Company
Get business loans from a Livingston, New Jersey bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.
Cit Small Business Lending Corp is a Livingston, New Jersey small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Michigan company.
SBA Loan Borrower
COMPANY TYPE: ROPE, CORDAGE, AND TWINE MILLS
WIXOM, MI 48393
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
314991 - Rope, Cordage, and Twine Mills
Loan Approval Date
1/23/2008
Loan Approval Gross Amount
$723,200
Loan Approval from the SBA
Of the total $723,200 loan amount, the SBA guaranteed $542,400.
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. This SBA loan request indicated that the loan would help retain 4 existing jobs.
Start the Process for Getting an SBA Loan Today!
Every year, the SBA guarantees over $10 billion for loans just like this one.
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.
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