Washington Entrepreneur Secures Financing to Buy Pita Pit Franchise

Borrowing money to purchase a Pita Pit 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 Pita Pit franchise requires some effort but others before you have been successful. In 2007, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Puyallup, Washington. Because Pita Pit was registered with the SBA's registry of franchises, this Washington small business loan was issued on an expedited basis.

SBA Loan Borrower

THE PITA PIT #2
PUYALLUP, WA 98374

SBA Loan Lender

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

This lender provides SBA 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

722211 - Limited-Service Restaurants

Loan Approval Date

3/28/2007

Loan Approval Gross Amount

$276,800

Loan Approval from the SBA

Of the total $276,800 loan amount, the SBA guaranteed $207,600.

More Information on This SBA Loan

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

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

If you are raising money in Puyallup WA, you ought to talk with a local Puyallup SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Puyallup businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Pita Pit

Understanding Dilution

SBA Approved Banks in Livingston, New Jersey

New Jersey SBA 7A Lenders