Glen Allen, VA Entrepreneur Gets SBA Loan to Buy Kid To Kid Franchise

Borrowing money to buy a Kid To Kid franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Kid To Kid franchise loans are available to Glen Allen, Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cit Small Business Lending Corp, based in Livingston, New Jersey, issued an SBA franchise loan for a Kid To Kid franchise in 2000. We've got all the details on this Virginia small business loan.

SBA Loan Borrower

KID TO KID
GLEN ALLEN, VA 23060

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.

SIC Code

5641 - Children's and Infants' Wear Stores

NAICS Code

448130 - Children's and Infants' Clothing Stores

Loan Approval Date

5/19/2000

Loan Approval Gross Amount

$115,500

Loan Approval from the SBA

Of the total $115,500 loan amount, the SBA guaranteed $86,625.

More Information on This SBA Loan

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

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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $115,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Kid to Kid

Understanding Dilution

SBA Approved Banks in Livingston, New Jersey

Getting a Business Loan in New Jersey