Cit Small Business Lending Corp Provides SBA Loan to Buy Sports Clips Franchise

Need money to purchase a Sports Clips franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Sports Clips franchise is doable. In 2006, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Albuquerque, New Mexico. Because Sports Clips was registered with the SBA's registry of franchises, this New Mexico small business loan was issued on an expedited basis.

SBA Loan Borrower

E&G ENTERPRISES LLC
ALBUQUERQUE, NM 87111

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

812112 - Beauty Salons

Loan Approval Date

1/20/2006

Loan Approval Gross Amount

$154,000

Loan Approval from the SBA

Of the total $154,000 loan amount, the SBA guaranteed $115,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Sports Clips franchise. At the time of the loan, the company had 11 employees. The SBA loan application for the borrower indicated that the funding would help generate 11 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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.

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