Cit Small Business Lending Corp Provides SBA Loan to Buy Travel Network Franchise

Need money to buy a Travel Network 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 Travel Network franchise is doable. In 2000, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Ocean Springs, Mississippi. Because Travel Network was registered with the SBA's registry of franchises, this Mississippi small business loan was issued on an expedited basis.

SBA Loan Borrower

TRAVEL NETWORK
OCEAN SPRINGS, MS 39564

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.

SIC Code

4724 - Travel Agencies

NAICS Code

561510 - Travel Agencies

Loan Approval Date

3/24/2000

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $64,000.

More Information on This SBA Loan

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

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to 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.

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.

Related Links:

Travel Network

Small Business Credit Cards

Best Banks in Livingston, New Jersey

SBA Lenders in New Jersey