Cit Small Business Lending Corp Provides SBA Loan to Buy Bruster's Franchise

Need a loan to purchase a Bruster's franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Mount Pleasant, South Carolina needed money to invest in a Bruster's franchise back in 2003. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this South Carolina small business loan.

SBA Loan Borrower

BRUSTER'S OLD-FASHIONED ICE CR
MOUNT PLEASANT, SC 29466

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

722211 - Limited-Service Restaurants

Loan Approval Date

3/14/2003

Loan Approval Gross Amount

$713,000

Loan Approval from the SBA

Of the total $713,000 loan amount, the SBA guaranteed $534,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Bruster's franchise. At the time of the loan, the company had 11 employees. This SBA loan request indicated that the loan would help generate 11 new jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

We can help you find the best banks for small businesses in Mount Pleasant 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.

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