Exton, PA Entrepreneur Gets SBA Loan to Buy Street Corner News Franchise

Borrowing money to purchase a Street Corner News franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Exton, Pennsylvania needed money to invest in a Street Corner News franchise back in 2004. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

STREET CORNER NEWS
EXTON, PA 19341

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

451212 - News Dealers and Newsstands

Loan Approval Date

7/28/2004

Loan Approval Gross Amount

$165,800

Loan Approval from the SBA

Of the total $165,800 loan amount, the SBA guaranteed $124,350.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Street Corner News franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the funding would help create 2 new jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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.

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