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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Hobbytown Usa Loan | ||||
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I Need an SBA Loan to Buy a Franchise in Lorton, Virginia
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Loan to Buy Hobbytown Usa Franchise Issued By Cit Small Business Lending CorpNeed a loan to buy a Hobbytown Usa 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 Hobbytown Usa franchise may simply require a phone call to a local SBA banker. In 2004, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Lorton, Virginia. Because Hobbytown Usa was registered with the SBA's registry of franchises, this Virginia small business loan was issued on an expedited basis. SBA Loan Borrower HOBBYTOWN USA SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This lender provides SBA small 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 451120 - Hobby, Toy, and Game Stores Loan Approval Date 5/19/2004 Loan Approval Gross Amount $340,000 Loan Approval from the SBA Of the total $340,000 loan amount, the SBA guaranteed $255,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Hobbytown Usa franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the borrowed money would help generate 3 new jobs. Start the Process for Getting an SBA Loan Today! 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Livingston, New Jersey Banks for Small Business
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