Peachtree City, GA Entrepreneur Gets SBA Loan to Buy Primrose School daycare Franchise

Borrowing money to buy a Primrose School daycare franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Peachtree City, Georgia needed money to invest in a Primrose School daycare franchise back in 2005. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Georgia small business loan.

SBA Loan Borrower

PRIMROSE SCHOOL OF PEACHTREE C
PEACHTREE CITY, GA 30269

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

624410 - Child Day Care Services

Loan Approval Date

11/9/2005

Loan Approval Gross Amount

$1,407,000

Loan Approval from the SBA

Of the total $1,407,000 loan amount, the SBA guaranteed $1,055,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Primrose School daycare franchise. At the time of the loan, the company had 26 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 6 existing jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cit Small Business Lending Corp had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cit Small Business Lending Corp made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Primrose School Franchising Company

Financing Your Business

SBA 7A Banks in Livingston, New Jersey

Getting an SBA Loan in New Jersey