Texas Entrepreneur Secures Financing to Buy Primrose School daycare Franchise
Borrowing money to buy a Primrose School daycare 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 a Primrose School daycare franchise? If so, here's a 2006 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Houston, Texas.
SBA Loan Borrower
PRIMROSE SCHOOL OF ELDRIDGE PA
HOUSTON, TX 77024
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
624410 - Child Day Care Services
Loan Approval Date
4/25/2006
Loan Approval Gross Amount
$2,000,000
Loan Approval from the SBA
Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Primrose School daycare franchise. At the time of the loan, the company
had 35 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 33 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding.
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 $2,000,000 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:
Primrose School Franchising Company
Understanding Dilution
Small Bank Loans in Livingston, New Jersey
SBA New Jersey Banks