Orlando, FL Entrepreneur Gets SBA Loan to Buy Signs Now Franchise

Borrowing money to purchase a Signs Now 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 Signs Now franchise may simply require a phone call to a local SBA banker. In 2001, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Orlando, Florida. Because Signs Now was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

SIGNS NOW
ORLANDO, FL 32809

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

339950 - Sign Manufacturing

Loan Approval Date

5/29/2001

Loan Approval Gross Amount

$388,000

Loan Approval from the SBA

Of the total $388,000 loan amount, the SBA guaranteed $291,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Signs Now franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Signs Now Corporation

How Equity Dilution Works

Good Banks for Small Business in Livingston, New Jersey

SBA Participating Banks in New Jersey