Loan to Buy Jimmy John's Franchise Issued By Cit Small Business Lending Corp

Borrowing money to invest in a Jimmy John's 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 Jimmy John's franchise may simply require a phone call to a local SBA banker. In 2007, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Charlotte, North Carolina. Because Jimmy John's was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

JIMMY JOHNS
CHARLOTTE, NC 28269

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/21/2007

Loan Approval Gross Amount

$334,000

Loan Approval from the SBA

Of the total $334,000 loan amount, the SBA guaranteed $250,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Jimmy John's franchise. At the time of the loan, the company had 70 employees. This SBA loan request indicated that the loan would help generate 35 new jobs and retain 35 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $334,000 loan. Remember, things become real when you believe you can achieve them!

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:

Jimmy John's Gourmet Sandwiches

Obtaining Funding - Friends and Family

SBA 7A Lenders in Livingston, New Jersey

SBA New Jersey Banks