Cit Small Business Lending Corp Provides SBA Loan to Buy Pinch-A-Penny Franchise

Need a loan to invest in a Pinch-A-Penny 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 Pinch-A-Penny franchise is doable. In 2003, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Panama City, Florida. Because Pinch-A-Penny was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

PINCH A PENNY
PANAMA CITY, FL 32405

SBA Loan Lender

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

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

10/28/2003

Loan Approval Gross Amount

$1,274,000

Loan Approval from the SBA

Of the total $1,274,000 loan amount, the SBA guaranteed $955,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Pinch-A-Penny franchise. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower indicated that the loan would help retain 9 existing jobs.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,274,000 loan. Remember, anyone can do it... so why not you?

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:

Pinch A Penny, Inc.

Obtaining Funding - Friends and Family

Banks in Livingston, New Jersey

SBA New Jersey Banks