Loan to Buy Pro Cuts Franchise Issued By Cit Small Business Lending Corp

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

Pro Cuts franchise loans are available to Ennis, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cit Small Business Lending Corp, based in Livingston, New Jersey, issued an SBA franchise loan for a Pro Cuts franchise in 2002. We've got all the details on this Texas small business loan.

SBA Loan Borrower

PRO CUTS
ENNIS, TX 75119

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

8/20/2002

Loan Approval Gross Amount

$157,500

Loan Approval from the SBA

Of the total $157,500 loan amount, the SBA guaranteed $118,125.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Pro Cuts franchise. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower indicated that the loan would help generate 7 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Ennis TX, you ought to talk with a local Ennis SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ennis businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Cit Small Business Lending Corp so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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SBA Lenders in New Jersey