Loan to Buy Meineke Discount Muffler Franchise Issued By Cit Small Business Lending Corp

Need a loan to invest in a Meineke Discount Muffler franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Harrisonburg, Virginia needed money to invest in a Meineke Discount Muffler franchise back in 2005. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Virginia small business loan.

SBA Loan Borrower

MEINEKE CAR CARE CENTER
HARRISONBURG, VA 22801

SBA Loan Lender

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

This lender provides SBA bank 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

811112 - Automotive Exhaust System Repair

Loan Approval Date

2/4/2005

Loan Approval Gross Amount

$193,500

Loan Approval from the SBA

Of the total $193,500 loan amount, the SBA guaranteed $145,125.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Meineke Discount Muffler franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the borrowed money would help create 3 new jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Meineke Car Care Centers

Obtaining Funding - How to Borrow Money

SBA 7A Banks for Livingston, New Jersey Loans

SBA New Jersey Banks