Loan to Buy Auntie Ann's soft Pretzels Franchise Issued By Cit Small Business Lending Corp

Borrowing money to purchase an Auntie Ann's soft Pretzels 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 an Auntie Ann's soft Pretzels franchise? If so, here's a 2002 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Glen Burnie, Maryland.

SBA Loan Borrower

AUNTIE ANN'S PRETZELS
GLEN BURNIE, MD 21061

SBA Loan Lender

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

When this loan was made, the lender participated in the SBA's Certified Lenders Program (CLP). This program aims to offer expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5461 - Retail Bakeries

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

12/24/2002

Loan Approval Gross Amount

$350,800

Loan Approval from the SBA

Of the total $350,800 loan amount, the SBA guaranteed $263,100.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Auntie Ann's soft Pretzels franchise. At the time of the loan, the company had 14 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Small Business Credit Cards

Where to Get an SBA Loan in Livingston, New Jersey

Getting an SBA Loan in New Jersey