Austin, TX Entrepreneur Gets SBA Loan to Buy Primrose School daycare Franchise

Need a loan to invest in a Primrose School daycare franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Primrose School daycare franchise? If so, here's a 2005 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Austin, Texas.

SBA Loan Borrower

PRIMROSE SCHOOL OF SHADY HOLLO
AUSTIN, TX 78748

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

6/22/2005

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Primrose School daycare franchise. At the time of the loan, the company had 30 employees. The SBA loan documents indicated that the borrowed money would help create 30 new jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 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:

Primrose School Franchising Company

Microlending as a Small Business Funding Source

Small Business Banks in Livingston, New Jersey

New Jersey SBA Bank Lenders