Cit Small Business Lending Corp Gives SBA Loan to Airpak Distribution Inc

Would an Oklahoma SBA loan help your business get to the next level? If so, you may want to talk with this New Jersey bank, which offers SBA loans to Oklahoma entrepreneurs.

By giving the right information to Cit Small Business Lending Corp, this Tulsa, Oklahoma business was able to get an SBA loan. To get this loan, Airpak Distribution Inc 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

AIRPAK DISTRIBUTION INC
6901 E 12TH ST
TULSA, OK 74112

SBA Loan Lender

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

This lender provides SBA bank loans 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

422610 - Plastics Materials and Basic Forms and Shapes Wholesalers

Loan Approval Date

5/12/2004

Loan Approval Gross Amount

$380,000

Loan Approval from the SBA

Of the total $380,000 loan amount, the SBA guaranteed $285,000.

More Information on This SBA Loan

The borrower, Airpak Distribution Inc, 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 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 10 existing jobs. This loan was paid in full, and was closed out on 8/30/2007.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like Airpak Distribution Inc did when it applied for and received this $380,000 loan. Remember, things become real when you believe you can achieve them!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Small Business Loan

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