Cit Small Business Lending Corp Provides SBA Loan to Buy Big O Tires dealers Franchise

Need a loan to buy a Big O Tires dealers 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 Big O Tires dealers franchise shouldn't be overly burdensome. In 2004, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Rexburg, Idaho. Because Big O Tires dealers was registered with the SBA's registry of franchises, this Idaho small business loan was issued on an expedited basis.

SBA Loan Borrower

BIG O TIRES
REXBURG, ID 83440

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

441320 - Tire Dealers

Loan Approval Date

5/19/2004

Loan Approval Gross Amount

$1,242,000

Loan Approval from the SBA

Of the total $1,242,000 loan amount, the SBA guaranteed $931,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Big O Tires dealers franchise. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 9 new jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start a business or need money for an existing business, an SBA loan can be a great funding source

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.

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