Virginia Entrepreneur Secures Financing to Buy Play It Again Sports retail Sports Franchise

Need money to invest in a Play It Again Sports retail Sports 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 Play It Again Sports retail Sports franchise is doable. In 2001, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Bent Mountain, Virginia. Because Play It Again Sports retail Sports was registered with the SBA's registry of franchises, this Virginia small business loan was issued on an expedited basis.

SBA Loan Borrower

PLAY IT AGAIN SPORTS-ROANOKE
BENT MOUNTAIN, VA 24014

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

451110 - Sporting Goods Stores

Loan Approval Date

5/1/2001

Loan Approval Gross Amount

$949,000

Loan Approval from the SBA

Of the total $949,000 loan amount, the SBA guaranteed $711,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Play It Again Sports retail Sports franchise. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 2 existing jobs.

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

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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