Illinois Entrepreneur Secures Financing to Buy Flowerama Franchise

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.

Getting money to buy a Flowerama franchise may simply require a phone call to a local SBA banker. In 2005, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Mundelein, Illinois. Because Flowerama was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

FLOWERAMA
MUNDELEIN, IL 60060

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

453110 - Florists

Loan Approval Date

7/12/2005

Loan Approval Gross Amount

$237,000

Loan Approval from the SBA

Of the total $237,000 loan amount, the SBA guaranteed $177,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Flowerama franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help retain 8 existing jobs.

Getting an SBA Loan For Your Business

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

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 $237,000 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.

Related Links:

Flowerama of America, Inc.

Equity Financing

Small Business Banks in Livingston, New Jersey

New Jersey SBA 7A Lenders