Cit Small Business Lending Corp Provides SBA Loan to Buy True Value Hardware Franchise

Need money to invest in a True Value Hardware franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a True Value Hardware franchise? If so, here's a 2004 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Palo Cedro, California.

SBA Loan Borrower

PALO CEDRO TRUE VALUE
PALO CEDRO, CA 96073

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

444130 - Hardware Stores

Loan Approval Date

10/4/2004

Loan Approval Gross Amount

$874,000

Loan Approval from the SBA

Of the total $874,000 loan amount, the SBA guaranteed $655,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a True Value Hardware franchise. At the time of the loan, the company had 13 employees. The SBA loan documents indicated that the loan would help retain 13 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

Related Links:

True Value Hardware

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SBA Participating Banks in Livingston, New Jersey

New Jersey SBA Banks