CIT Bank - Small Business Lending provides Small Business Administration (SBA) loans for new construction, alterations, additions, acquisitions and leasehold improvements.

SBA loans offer a number of advantages, including:

• Longer repayment terms
• Competitive interest rates that will not exceed the Wall Street Journal prime rate plus 2.75%
• No balloon payments

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, legal fees, appraisal, title work, searches, surveys, lenders fees, SBA guarantee fees, franchise fees, machinery/equipment, furniture and fixtures and working capital.

Our interests are long-term

A construction project is a complex business. For this reason, 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 Bank - Small Business Lending, we’re interested in the long-term success of your business.

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.

Call us today at 1-800-713-4984 or complete a loan details form and let's get this building started.