Fairfax, VA Entrepreneur Gets SBA Loan to Buy Norwalk Furniture Idea Franchise

Need money to buy a Norwalk Furniture Idea 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 Norwalk Furniture Idea franchise? If so, here's a 2004 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Fairfax, Virginia.

SBA Loan Borrower

NORWALK THE FURNITURE IDEA
FAIRFAX, VA 22030

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

442110 - Furniture Stores

Loan Approval Date

10/14/2004

Loan Approval Gross Amount

$348,000

Loan Approval from the SBA

Of the total $348,000 loan amount, the SBA guaranteed $261,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Norwalk Furniture Idea franchise. At the time of the loan, the company had 39 employees. The SBA loan application for the borrower indicated that the loan would help generate 24 new jobs and retain 15 existing jobs.

Getting an SBA Loan For Your Business

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $348,000 loan. Remember, anyone can do it... so why not you?

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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