Illinois Entrepreneur Secures Financing to Buy Executive Tans Franchise

Need money to invest in an Executive Tans franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Executive Tans franchise loans are available to Addison, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cit Small Business Lending Corp, based in Livingston, New Jersey, issued an SBA franchise loan for an Executive Tans franchise in 2003. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

EXECUTIVE TANS #213
ADDISON, IL 60101

SBA Loan Lender

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

This lender provides SBA guaranteed business 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

812990 - Personal Services

Loan Approval Date

8/1/2003

Loan Approval Gross Amount

$219,000

Loan Approval from the SBA

Of the total $219,000 loan amount, the SBA guaranteed $164,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Executive Tans franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Cit Small Business Lending Corp that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Executive Tans

Obtaining Funding - Getting Venture Capital

Small Bank Loans in Livingston, New Jersey

Getting an SBA Loan in New Jersey