Loan to Buy Mr. Hero Sandwich Shop Franchise Issued By Cit Small Business Lending Corp

Need money to invest in a Mr. Hero Sandwich Shop franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Euclid, Ohio needed money to invest in a Mr. Hero Sandwich Shop franchise back in 2003. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Ohio small business loan.

SBA Loan Borrower

MR HERO
EUCLID, OH 44119

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

722211 - Limited-Service Restaurants

Loan Approval Date

6/12/2003

Loan Approval Gross Amount

$267,000

Loan Approval from the SBA

Of the total $267,000 loan amount, the SBA guaranteed $200,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mr. Hero Sandwich Shop franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

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

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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