Borrow Money to Buy a Big O Tires dealers Franchise

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

An entrepreneur in Eagle, Idaho needed money to invest in a Big O Tires dealers franchise back in 2005. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Idaho small business loan.

SBA Loan Borrower

BIG O TIRES
EAGLE, ID 83616

SBA Loan Lender

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

This lender provides SBA bank 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

441320 - Tire Dealers

Loan Approval Date

2/10/2005

Loan Approval Gross Amount

$1,590,000

Loan Approval from the SBA

Of the total $1,590,000 loan amount, the SBA guaranteed $1,192,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Big O Tires dealers franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We can help you find the best banks for small businesses in Eagle 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.

Related Links:

Big O Tires, Inc.

Obtaining Funding - How to Decide How Much to Raise

Best Banks for Small Business in Livingston, New Jersey

New Jersey SBA 7A Lenders