Cit Small Business Lending Corp Provides SBA Loan to Buy Great Frame the Franchise

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

Want to borrow money to buy a Great Frame the franchise? If so, here's a 2003 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Mokena, Illinois.

SBA Loan Borrower

GREAT FRAME UP
MOKENA, IL 60448

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

10/15/2003

Loan Approval Gross Amount

$139,600

Loan Approval from the SBA

Of the total $139,600 loan amount, the SBA guaranteed $118,660.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Great Frame the franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the funding would help create 2 new jobs.

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

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

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 $139,600 loan. Remember, where there is a will, there is a way!

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.

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