Loan to Buy Hungry Howie's Franchise Issued By Cit Small Business Lending Corp

Borrowing money to purchase a Hungry Howie's franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

If you live near Gulfport, Mississippi and are interested in buying a Hungry Howie's franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by Cit Small Business Lending Corp. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

HUNGRY HOWES
GULFPORT, MS 39501

SBA Loan Lender

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

This lender provides SBA guaranteed business 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

722211 - Limited-Service Restaurants

Loan Approval Date

4/9/2007

Loan Approval Gross Amount

$254,200

Loan Approval from the SBA

Of the total $254,200 loan amount, the SBA guaranteed $190,650.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Hungry Howie's franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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:

Hungry Howie's Pizza & Subs

Microlending as a Small Business Funding Source

Best Banks in Livingston, New Jersey

Browse All Business Loan Sources for New Jersey