Cheney, WA Entrepreneur Gets SBA Loan to Buy Pita Pit Franchise

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

An entrepreneur in Cheney, Washington needed money to invest in a Pita Pit franchise back in 2006. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Washington small business loan.

SBA Loan Borrower

PITA PIT
CHENEY, WA 99004

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

2/22/2006

Loan Approval Gross Amount

$228,000

Loan Approval from the SBA

Of the total $228,000 loan amount, the SBA guaranteed $171,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Pita Pit franchise. At the time of the loan, the company had 20 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 18 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Pita Pit

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SBA Participating Banks in Livingston, New Jersey

Where to Get an SBA Loan New Jersey