Virginia Entrepreneur Secures Financing to Buy Great Frame the Franchise

Borrowing money to buy a Great Frame the 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 Great Frame the franchise is doable. In 2005, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Richmond, Virginia. Because Great Frame the was registered with the SBA's registry of franchises, this Virginia small business loan was issued on an expedited basis.

SBA Loan Borrower

THE GREAT FRAME UP
RICHMOND, VA 23294

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

4/26/2005

Loan Approval Gross Amount

$168,700

Loan Approval from the SBA

Of the total $168,700 loan amount, the SBA guaranteed $126,525.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Great Frame the franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the funding would help create 3 new jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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