Cit Small Business Lending Corp Provides SBA Loan to Buy Maaco Auto Painting Center Franchise

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

Maaco Auto Painting Center franchise loans are available to Manchester, New Hampshire entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cit Small Business Lending Corp, based in Livingston, New Jersey, issued an SBA franchise loan for a Maaco Auto Painting Center franchise in 2005. We've got all the details on this New Hampshire small business loan.

SBA Loan Borrower

MACCO PAINTING & BODY CENTER
MANCHESTER, NH 03103

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

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

8/24/2005

Loan Approval Gross Amount

$410,000

Loan Approval from the SBA

Of the total $410,000 loan amount, the SBA guaranteed $307,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Maaco Auto Painting Center franchise. At the time of the loan, the company had 12 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 10 existing jobs.

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

If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source

We can help you find the best banks for small businesses in Manchester or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

MAACO Enterprises, Inc.

Advice on Getting a Small Business Loan

SBA 7A Banks in Livingston, New Jersey

New Jersey SBA 7A Lenders