Pennsylvania Entrepreneur Secures Financing to Buy Arby's Franchise

Borrowing money to purchase an Arby's franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Arby's franchise requires some effort but others before you have been successful. In 2002, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Broomall (township Name Marple, Pennsylvania. Because Arby's was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis.

SBA Loan Borrower

ARBY'S
BROOMALL (TOWNSHIP NAME MARPLE, PA 19008

SBA Loan Lender

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

This lender provides SBA small 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

722211 - Limited-Service Restaurants

Loan Approval Date

5/14/2002

Loan Approval Gross Amount

$975,000

Loan Approval from the SBA

Of the total $975,000 loan amount, the SBA guaranteed $624,975.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Arby's franchise. At the time of the loan, the company had 25 employees. The SBA loan application for the borrower indicated that the loan would help generate 40 new jobs and retain 25 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Arby's, LLC

SBIR Funding

Small Bank Loans in Livingston, New Jersey

New Jersey SBA Banks