Loan to Buy Golden Corral restaurant Franchise Issued By Cit Small Business Lending Corp

Need money to buy a Golden Corral restaurant 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 Golden Corral restaurant 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 Columbia, Missouri. Because Golden Corral restaurant was registered with the SBA's registry of franchises, this Missouri small business loan was issued on an expedited basis.

SBA Loan Borrower

GOLDEN CORRAL
COLUMBIA, MO 65202

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1526 COLE BLVD., BLDG #3, STE
GOLDEN, CO 80401

This lender issued this debt financing under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/16/2007

Loan Approval Gross Amount

$930,000

Loan Approval from the SBA

Of the total $930,000 loan amount, the SBA guaranteed $697,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Golden Corral restaurant franchise. At the time of the loan, the company had 75 employees. This SBA loan request indicated that the loan would help retain 75 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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