Small businesses everywhere rely on CIT Small Business Lending Corporation for their diverse financing needs. We offer Small Business Administration (SBA) and conventional loans for:
Business Acquisition
Commercial Real Estate Financing
Franchise Financing
Construction Loans Business
Succession Financing
Business Acquisition
At CIT we understand that intangible assets are often the most valuable in an acquisition – a customer list, a trademark, a patent or other goodwill. We consider a company’s true potential, then provide the kind of financing your acquisition needs for long-term success.
We offer:
- Loans from $250,000 to $2 million
- Up to 90% financing
- No minimum collateral requirements on loans up to $1 million
- Working capital and new equipment financing are available as part of the loan
- Sales can be financed over 10 to 25 years (with real estate) with no balloons
- In most cases, the seller will not be required to finance any of the sales price and will receive cash at closing rather than over a period of several years
Commercial Real Estate Financing
By providing both SBA and conventional loans, we can meet a variety of your real estate financing needs.
We offer:
- Loans from $200,000 to $10 million
- Up to 100% financing
- Purchase, refinance, construction or expansion
- Terms up to 25 years
- No balloon payments
- Fixed and variable rates
- Owner-occupied properties only
Franchise Financing
Many franchisees use SBA loans to meet their financing needs. That is why so many of them turn to CIT Small Business Lending Corporation, the largest provider of SBA loans to franchises in the United States.
We provide franchisees with loans to meet a variety of franchise financing needs:
- Start-up in a new location
- Acquisition of an existing location
- Refinance
- Re-branding
Our loan terms are structured to accommodate a wide range of franchise concepts:
- Loans from $150,000 - $5 million
- Up to 85% financing
- Terms up to 25 years with real estate or 10 years without
- No minimum collateral requirements on loans up to $500,000
- No management experience required on most concepts
- Customized credit and closing criteria can be crafted for select concepts
We have reviewed and assigned lending criteria to more than 1,000 franchises, so we have the expertise to get your franchise operation open and generating sales quickly and efficiently.
Construction Loans
We offer SBA loans for new construction, alterations, additions, acquisitions and leasehold improvements.
SBA loans offer a number of advantages, including:
- Up to 90% financing
- Terms up to 25 years
- No balloon payments
- Variable and fixed rates
Funds can be used to cover both hard costs and some soft costs associated with your construction project. They can include land acquisition, building construction or improvements, all fees, appraisal, title work, searches, surveys, machinery/equipment, furniture, fixtures and working capital.
Our interests are long term
A construction project is a complex business. Our experienced staff and policies are in place to facilitate dealing with construction lending. And we’re still there for you after the project is complete.
At CIT Small Business Lending, we’re interested in your business’ lasting success.
Once and done
Best of all, a construction loan from us automatically converts to long-term financing once the construction project is completed. This means you don’t need to apply for another mortgage or a bridge loan.
Apart from the considerable convenience that this offers, you’ll also have just one closing, one set of closing costs, and one lender.
Business Succession Financing
You’ve worked hard to build your business to its current level of success. Selling to a partner or manager can help ensure its continued success for years to come.
We can help with:
- Up to 90% financing of the sale of your business to a manager
- Up to 100% financing of the sale of your business to a partner/shareholder
- Working capital and new equipment financing are available as part of the loan
- Sales can be financed over 10 to 25 years (with real estate) with no balloons
- In most cases, the seller will not be required to finance any of the sales price and will receive cash at closing rather than over a period of several years
- Loans up to $3 million available
CIT Small Business Lending will work with you or your financial advisor to help you structure the best transaction for the sale of your business.
Contact us today to discover how we can meet your small business financing needs.