Kansas City, MO Entrepreneur Gets SBA Loan to Buy Fast Frame Franchise

Need money to purchase a Fast Frame franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Kansas City, Missouri needed money to invest in a Fast Frame franchise back in 2003. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Missouri small business loan.

SBA Loan Borrower

FASTFRAME
KANSAS CITY, MO 64138

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

442299 - Home Furnishings Stores

Loan Approval Date

7/18/2003

Loan Approval Gross Amount

$151,500

Loan Approval from the SBA

Of the total $151,500 loan amount, the SBA guaranteed $113,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Fast Frame franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help create 1 new job.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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:

FASTFRAME USA INC.

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Small Business Banks in Livingston, New Jersey

New Jersey SBA 7A Banks