Cit Small Business Lending Corp Provides SBA Loan to Buy Great Harvest Bread Co. Franchise

Need money to invest in a Great Harvest Bread Co. 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 Great Harvest Bread Co. franchise requires some effort but others before you have been successful. In 2003, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Palos Park, Illinois. Because Great Harvest Bread Co. was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

GREAT HARVEST BREAD CO
PALOS PARK, IL 60464

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

445291 - Baked Goods Stores

Loan Approval Date

6/13/2003

Loan Approval Gross Amount

$106,000

Loan Approval from the SBA

Of the total $106,000 loan amount, the SBA guaranteed $90,100.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Great Harvest Bread Co. franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the funding would help generate 10 new jobs.

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

Although it's called an SBA loan, you 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.

We've showcased information on this loan to let you know that businesses like yours 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.

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