Loan to Buy Flowerama Franchise Issued By Cit Small Business Lending Corp

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

If you live near Mundelein, Illinois and are interested in buying a Flowerama franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Cit Small Business Lending Corp. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

FLOWERAMA OF MUNDELEIN
MUNDELEIN, IL 60060

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5992 - Florists

NAICS Code

453110 - Florists

Loan Approval Date

9/13/2000

Loan Approval Gross Amount

$247,600

Loan Approval from the SBA

Of the total $247,600 loan amount, the SBA guaranteed $185,700.

More Information on This SBA Loan

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

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Cit Small Business Lending Corp are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Flowerama of America, Inc.

Determining Proper Capital Structure for a Business

Good Banks for Small Business in Livingston, New Jersey

SBA Participating Banks in New Jersey