Edison (township Of), NJ Entrepreneur Gets SBA Loan to Buy Papa John's Pizza Franchise

Need a loan to buy a Papa John's Pizza 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 Papa John's Pizza franchise shouldn't be overly burdensome. In 2003, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Edison (township Of), New Jersey. Because Papa John's Pizza was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis.

SBA Loan Borrower

PAPA JOHN'S
EDISON (TOWNSHIP OF), NJ 08820

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/30/2003

Loan Approval Gross Amount

$229,500

Loan Approval from the SBA

Of the total $229,500 loan amount, the SBA guaranteed $172,125.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Papa John's Pizza franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the borrowed money would help generate 3 new jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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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Getting an SBA Loan in New Jersey