Cit Small Business Lending Corp Gives Business Loan to Jordan H Jones And The Aquarium On East 6t

Business loans in Texas are hard to find these days. We take a look at one Texas business loan, provided by a New Jersey bank, that was approved by the SBA.

By giving the right information to Cit Small Business Lending Corp, this Austin, Texas business was able to get an SBA loan. To get this loan, Jordan H Jones And The Aquarium On East 6t gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

Jordan H Jones and The Aquarium on East 6t
403 E. 6th Street
Austin, TX 78701

SBA Loan Lender

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

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places (Alcoholic Beverages)

Loan Approval Date

6/26/2007

Loan Approval Gross Amount

$599,000

Loan Approval from the SBA

Of the total $599,000 loan amount, the SBA guaranteed $449,250.

More Information on This SBA Loan

The borrower, Jordan H Jones And The Aquarium On East 6t, 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 25 employees. The SBA loan application for the borrower indicated that the loan would help retain 25 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Jordan H Jones And The Aquarium On East 6t 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:

Getting a Small Business Loan

Find an SBA Lender in Livingston, New Jersey

Getting a Business Loan in New Jersey

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