Florida Entrepreneur Secures Financing to Buy Cheeburger Cheburger Franchise

Need a loan to invest in a Cheeburger Cheburger 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 Cheeburger Cheburger franchise requires some effort but others before you have been successful. In 2006, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Orlando, Florida. Because Cheeburger Cheburger was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

CHEEBURGER CHEEBURGER
ORLANDO, FL 32826

SBA Loan Lender

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

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/26/2006

Loan Approval Gross Amount

$426,000

Loan Approval from the SBA

Of the total $426,000 loan amount, the SBA guaranteed $319,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cheeburger Cheburger franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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Cheeburger Cheeburger Restaurants, Inc.

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