Cit Small Business Lending Corp Provides SBA Loan to Buy Church's Fried Chicken Franchise

Need money to buy a Church's Fried Chicken 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 Church's Fried Chicken franchise shouldn't be too tough. In 2004, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Clanton, Alabama. Because Church's Fried Chicken was registered with the SBA's registry of franchises, this Alabama small business loan was issued on an expedited basis.

SBA Loan Borrower

CURRENT CORNER
CLANTON, AL 35045

SBA Loan Lender

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

This lender provides SBA debt financing 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

442299 - Home Furnishings Stores

Loan Approval Date

12/6/2004

Loan Approval Gross Amount

$566,000

Loan Approval from the SBA

Of the total $566,000 loan amount, the SBA guaranteed $424,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Church's Fried Chicken franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Cit Small Business Lending Corp and they will explain how you can get an SBA loan for your company.

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:

Church's Chicken

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SBA Approved Banks in Livingston, New Jersey

SBA Lenders in New Jersey