Cit Small Business Lending Corp Provides SBA Loan to Buy Skipper's Seafood 'N Chowder Franchise

Borrowing money to buy a Skipper's Seafood 'N Chowder franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Bend, Oregon needed money to invest in a Skipper's Seafood 'N Chowder franchise back in 2001. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Oregon small business loan.

SBA Loan Borrower

SKIPPERS SEAFOOD 'N' CHOWDER H
BEND, OR 97702

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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/31/2001

Loan Approval Gross Amount

$720,000

Loan Approval from the SBA

Of the total $720,000 loan amount, the SBA guaranteed $540,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Skipper's Seafood 'N Chowder franchise. At the time of the loan, the company had 15 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 12 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a company in Bend OR, you ought to talk with a local Bend SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bend businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $720,000 loan. Remember, where there is a will, there is a way!

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:

Alternative Financing

Small Business Banks in Livingston, New Jersey

SBA New Jersey Lenders