Cit Small Business Lending Corp Provides SBA Loan to Buy Comet One-Hour Dry Cleaners Franchise

Need a loan to buy a Comet One-Hour Dry Cleaners 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 Comet One-Hour Dry Cleaners 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 Carrollton, Texas. Because Comet One-Hour Dry Cleaners was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

COMET CLEANERS
CARROLLTON, TX 75007

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

812320 - Drycleaning and Laundry Services

Loan Approval Date

5/23/2002

Loan Approval Gross Amount

$339,200

Loan Approval from the SBA

Of the total $339,200 loan amount, the SBA guaranteed $254,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Comet One-Hour Dry Cleaners franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

This SBA loan was for $339,200. How would you spend $339,200 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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