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| Entrepreneur Resources | Cit Small Business Lending Corp Livingston Business Loans | ||||
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SBA Lenders That Lend to Miami Businesses
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Pelco Gets a Florida Small Business LoanBank loans in Florida are hard to find these days. We take a look at one Florida bank loan, provided by a New Jersey bank, that was approved by the SBA.
Pelco, based in Miami, Florida, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Cit Small Business Lending Corp. We've got the inside scoop on this Florida small business loan. SBA Loan Borrower PELCO 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 221320 - Sewage Treatment Facilities Loan Approval Date 8/31/2005 Loan Approval Gross Amount $982,000 Loan Approval from the SBA Of the total $982,000 loan amount, the SBA guaranteed $736,500. More Information on This SBA Loan The borrower, Pelco, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 14 employees. The SBA loan documents indicated that the loan would help retain 14 existing jobs. Next Steps for Getting an SBA Loan If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this Pelco loan from Cit Small Business Lending Corp so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Raising VC Money for Social Networking Companies Find an SBA Lender in Livingston, New Jersey 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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