Cit Small Business Lending Corp Provides SBA Loan to Buy Meineke Discount Muffler Franchise

Need money to buy a Meineke Discount Muffler 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 Meineke Discount Muffler franchise may simply require a phone call to a local SBA banker. In 2002, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Northport (rr Name Old Northpo, New York. Because Meineke Discount Muffler was registered with the SBA's registry of franchises, this New York small business loan was issued on an expedited basis.

SBA Loan Borrower

MEINEKE DISCOUNT MUFFLER #1643
NORTHPORT (RR NAME OLD NORTHPO, NY 11768

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

811112 - Automotive Exhaust System Repair

Loan Approval Date

1/30/2002

Loan Approval Gross Amount

$160,500

Loan Approval from the SBA

Of the total $160,500 loan amount, the SBA guaranteed $120,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Meineke Discount Muffler franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Northport (rr Name Old Northpo NY, you ought to talk with a local Northport (rr Name Old Northpo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Northport (rr Name Old Northpo businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Cit Small Business Lending Corp that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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