Cit Small Business Lending Corp Provides SBA Loan to Buy Church's Fried Chicken Franchise

Need a loan to buy a Church's Fried Chicken 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 Church's Fried Chicken franchise? If so, here's a 2004 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Birmingham, Alabama.

SBA Loan Borrower

CHURCH'S CHICKEN
BIRMINGHAM, AL 35208

SBA Loan Lender

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

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/10/2004

Loan Approval Gross Amount

$748,000

Loan Approval from the SBA

Of the total $748,000 loan amount, the SBA guaranteed $561,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Church's Fried Chicken franchise. At the time of the loan, the company had 52 employees. The loan application indicated that the loan would help retain 52 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $748,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Church's Chicken

Microlending as a Small Business Funding Source

Find an SBA Lender in Livingston, New Jersey

New Jersey SBA Bank Lenders