Minntonka, MN Entrepreneur Gets SBA Loan to Buy Once Upon A Child Franchise

Need a loan to invest in an Once Upon A Child franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Once Upon A Child franchise requires some effort but others before you have been successful. In 2007, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Minntonka, Minnesota. Because Once Upon A Child was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

ONCE UPON A CHILD
MINNTONKA, MN 55343

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1526 COLE BLVD., BLDG #3, STE
GOLDEN, CO 80401

This lender issued this loan for a small business under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453310 - Used Merchandise Stores

Loan Approval Date

10/19/2007

Loan Approval Gross Amount

$326,000

Loan Approval from the SBA

Of the total $326,000 loan amount, the SBA guaranteed $244,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Once Upon A Child franchise. At the time of the loan, the company had 11 employees. The SBA loan application for the borrower indicated that the funding would help create 11 new jobs.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Cit Small Business Lending Corp and they will explain how you can get an SBA loan for your company.

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:

Once Upon A Child

Strategic Investors

SBA Banks in Golden, Colorado

Getting an SBA Loan in Colorado