Cit Small Business Lending Corp Provides SBA Loan to Buy Great Frame the Franchise

Borrowing money to purchase a Great Frame the 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 Great Frame the 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 Plano, Texas.

SBA Loan Borrower

GREAT FRAME UP
PLANO, TX 75075

SBA Loan Lender

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

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

4/1/2004

Loan Approval Gross Amount

$161,600

Loan Approval from the SBA

Of the total $161,600 loan amount, the SBA guaranteed $121,200.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Great Frame the franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the funding would help generate 2 new jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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:

SBIR Funding

Banks in Livingston, New Jersey

Getting an SBA Loan in New Jersey