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| Entrepreneur Resources | Cit Small Business Lending Corp Livingston Business Loans | ||||
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How Much Does It Cost to Buy a Franchise in Miami, Florida?
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Miami, FL Entrepreneur Gets SBA Loan to Buy 1-800 Flowers FranchiseBorrowing money to buy a 1-800 Flowers franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.
If you live near Miami, Florida and are interested in buying a 1-800 Flowers franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by Cit Small Business Lending Corp. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower 1-800 FLOWERS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This commercial loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541490 - Other Specialized Design Services Loan Approval Date 2/7/2007 Loan Approval Gross Amount $270,000 Loan Approval from the SBA Of the total $270,000 loan amount, the SBA guaranteed $202,500. More Information on This SBA Loan The borrower, 1-800 Flowers, borrowed this money for a new business. This loan was used to buy a 1-800 Flowers franchise. At the time of the loan, the company had 15 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Cit Small Business Lending Corp are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Microlending as a Small Business Funding Source Small Bank Loans in Livingston, 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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