Cit Small Business Lending Corp Provides SBA Loan to Buy Meineke Discount Muffler Franchise

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

An entrepreneur in Rancho Cucamonga, California needed money to invest in a Meineke Discount Muffler franchise back in 2004. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

MEINEKE CAR CARE CENTER
RANCHO CUCAMONGA, CA 91739

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

811112 - Automotive Exhaust System Repair

Loan Approval Date

7/27/2004

Loan Approval Gross Amount

$187,500

Loan Approval from the SBA

Of the total $187,500 loan amount, the SBA guaranteed $140,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Meineke Discount Muffler franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the funding would help create 4 new jobs.

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

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This SBA loan was for $187,500. How would you spend $187,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

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