Loan to Buy Togo's Eatery Franchise Issued By Cit Small Business Lending Corp

Need a loan to buy a Togo's Eatery franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Togo's Eatery franchise? If so, here's a 2002 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Elk Grove, California.

SBA Loan Borrower

BASKIN ROBBINS/TOGO'S
ELK GROVE, CA 95758

SBA Loan Lender

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

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/10/2002

Loan Approval Gross Amount

$453,000

Loan Approval from the SBA

Of the total $453,000 loan amount, the SBA guaranteed $339,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Togo's Eatery franchise. At the time of the loan, the company had 35 employees. This SBA loan request indicated that the funding would help generate 35 new jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Togo's Eatery

Determining Proper Capital Structure for a Business

SBA 7A Banks for Livingston, New Jersey Loans

Getting an SBA Loan in New Jersey