Loan to Buy Wireless Toyz Franchise Issued By Cit Small Business Lending Corp

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

An entrepreneur in Farmington Hills, Michigan needed money to invest in a Wireless Toyz franchise back in 2005. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

WIRELESS TOYZ
FARMINGTON HILLS, MI 48335

SBA Loan Lender

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

This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

517212 -

Loan Approval Date

2/24/2005

Loan Approval Gross Amount

$151,000

Loan Approval from the SBA

Of the total $151,000 loan amount, the SBA guaranteed $113,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Wireless Toyz franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help create 5 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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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