Loan to Buy Primrose School daycare Franchise Issued By Cit Small Business Lending Corp

Borrowing money to invest in a Primrose School daycare franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Carrollton, Texas needed money to invest in a Primrose School daycare franchise back in 2004. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

PRIMROSE SCHOOL OF CASTLE HILL
CARROLLTON, TX 75010

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

624410 - Child Day Care Services

Loan Approval Date

5/11/2004

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Primrose School daycare franchise. At the time of the loan, the company had 31 employees. This SBA loan request indicated that the loan would help retain 31 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Primrose School Franchising Company

Role of Business Plan When Raising Money

SBA Banks in Livingston, New Jersey

SBA Participating Banks in New Jersey