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| Entrepreneur Resources | Cit Small Business Lending Corp Livingston Business Loans | ||||
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Getting an SBA Loan from Cit Small Business Lending Corp
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Cit Small Business Lending Corp SBA Loan to Rengar Properties LLC And StonAn SBA loan from Cit Small Business Lending Corp typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Austin, Texas business owner got a $675,000 loan.
Getting a small business loan in Austin, Texas was an essential business goal for Rengar Properties LLC And Ston back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Cit Small Business Lending Corp, operating out of Livingston, New Jersey. Here are the details on this Texas small business loan. SBA Loan Borrower RENGAR PROPERTIES LLC AND STON 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 446110 - Pharmacies and Drug Stores Loan Approval Date 9/5/2006 Loan Approval Gross Amount $675,000 Loan Approval from the SBA Of the total $675,000 loan amount, the SBA guaranteed $506,250. More Information on This SBA Loan The borrower, Rengar Properties LLC And Ston, 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 2 employees. The SBA loan documents indicated that the funding would help create 2 new jobs. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 SBA loan database. Related Links: Obtaining Funding - Friends and Family Banks 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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