Camden, NJ Entrepreneur Gets SBA Loan to Buy United Check Cashing,Inc. Franchise

Borrowing money to purchase an United Check Cashing,Inc. franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

United Check Cashing,Inc. franchise loans are available to Camden, New Jersey entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cit Small Business Lending Corp, based in Livingston, New Jersey, issued an SBA franchise loan for an United Check Cashing,Inc. franchise in 2004. We've got all the details on this New Jersey small business loan.

SBA Loan Borrower

THE MINGO GROUP LLC
CAMDEN, NJ 08101

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

522320 - Financial Transactions Processing, Reserve, and Clearinghouse Activities

Loan Approval Date

3/24/2004

Loan Approval Gross Amount

$716,000

Loan Approval from the SBA

Of the total $716,000 loan amount, the SBA guaranteed $537,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an United Check Cashing,Inc. franchise. At the time of the loan, the company had 13 employees. The loan application indicated that the loan would help retain 13 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Cit Small Business Lending Corp and they will explain how you can get an SBA loan for your company.

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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