Cit Small Business Lending Corp Provides SBA Loan to Buy Mr. Jim's Pizza Franchise
Need a loan to purchase a Mr. Jim's Pizza franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.
Want to borrow money to buy a Mr. Jim's Pizza franchise? If so, here's a 2001 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Cedar Hill, Texas.
SBA Loan Borrower
MR JIM'S PIZZA
CEDAR HILL, TX 75104
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
11/27/2001
Loan Approval Gross Amount
$124,000
Loan Approval from the SBA
Of the total $124,000 loan amount, the SBA guaranteed $105,400.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Mr. Jim's Pizza franchise. At the time of the loan, the company
had 11 employees. The SBA loan application for the borrower indicated that the loan would help retain 11 existing jobs.
Start the Process for Getting an SBA Loan Today!
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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:
Mr. Jim's Pizza
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New Jersey SBA Bank Lenders