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| Entrepreneur Resources | Cit Small Business Lending Corp Livingston Business Loans | ||||
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Best Banks for Miami Entrepreneurs
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Cit Small Business Lending Corp Gives Bank Loan to International ProsperitySBA loans in Florida are are few and far betweeen these days. We take a look at one Florida SBA 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 Miami, Florida business was able to get an SBA loan. To get this loan, International Prosperity 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 INTERNATIONAL PROSPERITY SBA Loan Lender CIT SMALL BUSINESS LENDING CORP Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 422470 - Meat and Meat Product Wholesalers Loan Approval Date 9/9/2004 Loan Approval Gross Amount $444,000 Loan Approval from the SBA Of the total $444,000 loan amount, the SBA guaranteed $333,000. More Information on This SBA Loan The borrower, International Prosperity, 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 11 employees. The SBA loan application for the borrower indicated that the loan would help retain 11 existing jobs. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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 International Prosperity 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 Best Livingston, New Jersey Banks for Small Business Getting a Business Loan in 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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