Georgia Entrepreneur Secures Financing to Buy Discovery Point Franchise

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

If you live near Cumming, Georgia and are interested in buying a Discovery Point franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 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

LOWE & ASSOCIATES LLC
CUMMING, GA 30040

SBA Loan Lender

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

This lender provides SBA 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

624410 - Child Day Care Services

Loan Approval Date

8/9/2004

Loan Approval Gross Amount

$172,800

Loan Approval from the SBA

Of the total $172,800 loan amount, the SBA guaranteed $129,600.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Discovery Point franchise. At the time of the loan, the company had 16 employees. The loan application indicated that the loan would help generate 16 new jobs.

Getting an SBA Loan For Your 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Cit Small Business Lending Corp that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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