Gainesville, FL Entrepreneur Gets SBA Loan to Buy Smoothie King health Food Store Franchise

Need a loan to purchase a Smoothie King health Food Store franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Smoothie King health Food Store franchise is doable. In 2002, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Gainesville, Florida. Because Smoothie King health Food Store was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

SMOOTHIE KING
GAINESVILLE, FL 32605

SBA Loan Lender

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

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422210 - Drugs and Druggists' Sundries Wholesalers

Loan Approval Date

3/27/2002

Loan Approval Gross Amount

$547,600

Loan Approval from the SBA

Of the total $547,600 loan amount, the SBA guaranteed $410,700.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Smoothie King health Food Store franchise. At the time of the loan, the company had 27 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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.

Related Links:

Smoothie King

Obtaining Funding From a Venture Capitalist

Small Business Banks in Livingston, New Jersey

SBA Lenders in New Jersey