Loan Census Banking News and Information
December 19, 2024  
 
 
  Business Loan Information  
 

Cherry Hill, New Jersey Bank Loan

 

 
Loan Census SBA Loan Info

New Jersey Entrepreneur Secures Financing to Buy Gymboree Franchise

Need a loan to purchase a Gymboree franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

If you live near Cherry Hill, New Jersey and are interested in buying a Gymboree franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Cit Small Business Lending Corp. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

GYMBOREE
CHERRY HILL, NJ 08034

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

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

1/18/2002

Loan Approval Gross Amount

$280,000

Loan Approval from the SBA

Of the total $280,000 loan amount, the SBA guaranteed $210,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Gymboree franchise. At the time of the loan, the company had 12 employees. The SBA loan documents indicated that the loan would help retain 12 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

We can help you find the best banks for small businesses in Cherry Hill or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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