Lincoln City (oceanlake), OR Entrepreneur Gets SBA Loan to Buy Country Clutter bed & Breakfast Franchise

Borrowing money to invest in a Country Clutter bed & Breakfast franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Country Clutter bed & Breakfast franchise shouldn't be overly burdensome. In 2003, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Lincoln City (oceanlake), Oregon. Because Country Clutter bed & Breakfast was registered with the SBA's registry of franchises, this Oregon small business loan was issued on an expedited basis.

SBA Loan Borrower

COUNTRY CLUTTER
LINCOLN CITY (OCEANLAKE), OR 97367

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

9/5/2003

Loan Approval Gross Amount

$210,000

Loan Approval from the SBA

Of the total $210,000 loan amount, the SBA guaranteed $157,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Country Clutter bed & Breakfast franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the borrowed money would help create 3 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $210,000 loan. Remember, anyone can do it... so why not you?

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:

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