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| Entrepreneur Resources | Cit Small Business Lending Corp Livingston Business Loans | ||||
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Cit Small Business Lending Corp
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Cit Small Business Lending Corp SBA Loan to Cleantx Building ServiceCit Small Business Lending Corp is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans.
Cleantx Building Service knew how to go about getting a business bank loan. Based in Austin, Texas, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Cit Small Business Lending Corp, based in Livingston, New Jersey. SBA Loan Borrower CLEANTX BUILDING SERVICE SBA Loan Lender CIT SMALL BUSINESS LENDING CORP As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561720 - Janitorial Services Loan Approval Date 11/16/2004 Loan Approval Gross Amount $680,000 Loan Approval from the SBA Of the total $680,000 loan amount, the SBA guaranteed $510,000. More Information on This SBA Loan The borrower, Cleantx Building Service, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs. This loan was paid in full, and was closed out on 12/4/2007. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as Cleantx Building Service walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. The sooner you start, the faster you'll get the money! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Banking Deregulation's Effects on Entrepreneurship SBA 7A Lenders in Livingston, New Jersey If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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