Caldwell, ID Entrepreneur Gets SBA Loan to Buy Fantastic Sam's Franchise

Need a loan to buy a Fantastic Sam's franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

If you live near Caldwell, Idaho and are interested in buying a Fantastic Sam's franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Cit Small Business Lending Corp. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

FANTASTIC SAMS
CALDWELL, ID 83605

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

812112 - Beauty Salons

Loan Approval Date

5/14/2002

Loan Approval Gross Amount

$99,400

Loan Approval from the SBA

Of the total $99,400 loan amount, the SBA guaranteed $84,490.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Fantastic Sam's franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

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.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Cit Small Business Lending Corp so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Fantastic Sams

Borrowing Money from Friends and Family

Banks in Livingston, New Jersey

New Jersey SBA Banks