 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
|
|
|
|
||
| Entrepreneur Resources | Cit Small Business Lending Corp Livingston Business Loans | ||||
 |
||||
Where to Get an SBA Loan to Purchase a Franchise
|
||||
 |
Loan to Buy Mr. Goodcents Sub' And Pasta Franchise Issued By Cit Small Business Lending CorpBorrowing money to buy a Mr. Goodcents Sub' And Pasta franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in Miami, Florida needed money to invest in a Mr. Goodcents Sub' And Pasta franchise back in 2004. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Florida small business loan. SBA Loan Borrower MR. GOODCENTS 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 722211 - Limited-Service Restaurants Loan Approval Date 11/16/2004 Loan Approval Gross Amount $212,000 Loan Approval from the SBA Of the total $212,000 loan amount, the SBA guaranteed $159,000. More Information on This SBA Loan The borrower, Mr. Goodcents, borrowed this money for a new business. This loan was used to buy a Mr. Goodcents Sub' And Pasta franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 10 new jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to 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. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan to Mr. Goodcents shows that any business with ambition and the right qualifications can get an SBA loan. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Obtaining Funding - Friends and Family Who Lends Money to Small Businesses in Livingston, New Jersey Where to Get an SBA Loan 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.
|
|
||
|
||||
|
|
||||
