Loan to Buy Primrose School daycare Franchise Issued By Cit Small Business Lending Corp

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.

Getting money to buy a Primrose School daycare franchise is doable. In 2007, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Plano, Texas. Because Primrose School daycare was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

PRIMROSE SCHOOL OF NORTH PLANO
PLANO, TX 75093

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1526 COLE BLVD., BLDG #3, STE
GOLDEN, CO 80401

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

6/27/2007

Loan Approval Gross Amount

$1,935,000

Loan Approval from the SBA

Of the total $1,935,000 loan amount, the SBA guaranteed $1,451,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Primrose School daycare franchise. At the time of the loan, the company had 21 employees. The SBA loan documents indicated that the loan would help retain 21 existing jobs.

Next Steps for Getting an SBA Loan

If you want money for new small business in Plano TX, you ought to talk with a local Plano SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Plano businesses.

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:

Primrose School Franchising Company

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SBA 7A Banks for Golden, Colorado Loans

Find an SBA Lender in Colorado