Cit Small Business Lending Corp Provides SBA Loan to Buy Brake Masters Sysyems Franchise

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

An entrepreneur in Fountain Hills, Arizona needed money to invest in a Brake Masters Sysyems franchise back in 2000. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Arizona small business loan.

SBA Loan Borrower

BRAKE MASTERS OF FOUNTAIN HILL
FOUNTAIN HILLS, AZ 85268

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

811111 - General Automotive Repair

Loan Approval Date

10/6/2000

Loan Approval Gross Amount

$172,000

Loan Approval from the SBA

Of the total $172,000 loan amount, the SBA guaranteed $129,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Brake Masters Sysyems franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs.

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

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

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 $172,000 loan. Remember, things become real when you believe you can achieve them!

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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