Indiana Entrepreneur Secures Financing to Buy Golden Corral restaurant Franchise

Need a loan to buy a Golden Corral restaurant franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Bedford, Indiana needed money to invest in a Golden Corral restaurant franchise back in 2000. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Indiana small business loan.

SBA Loan Borrower

GOLDEN CORRAL RESTAURANT
BEDFORD, IN 47421

SBA Loan Lender

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

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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/2/2000

Loan Approval Gross Amount

$415,000

Loan Approval from the SBA

Of the total $415,000 loan amount, the SBA guaranteed $311,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Golden Corral restaurant franchise. At the time of the loan, the company had 35 employees. The SBA loan documents indicated that the loan would help retain 35 existing jobs.

Getting an SBA Loan For Your Business

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

This SBA loan was for $415,000. How would you spend $415,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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