Borrow Money to Buy a Pita Pit Franchise

Borrowing money to buy a Pita Pit 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 Pita Pit franchise shouldn't be too tough. In 2006, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Muncie, Indiana. Because Pita Pit was registered with the SBA's registry of franchises, this Indiana small business loan was issued on an expedited basis.

SBA Loan Borrower

PITA PIT
MUNCIE, IN 47304

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

2/24/2006

Loan Approval Gross Amount

$218,400

Loan Approval from the SBA

Of the total $218,400 loan amount, the SBA guaranteed $163,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Pita Pit franchise. At the time of the loan, the company had 25 employees. The SBA loan application for the borrower indicated that the borrowed money would help generate 25 new jobs.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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