Romeoville (rr Name Romeo), IL Entrepreneur Gets SBA Loan to Buy Executive Tans Franchise

Need a loan to purchase an Executive Tans franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Romeoville (rr Name Romeo), Illinois needed money to invest in an Executive Tans franchise back in 2002. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Illinois small business loan.

SBA Loan Borrower

EXECUTIVE TANS 205
ROMEOVILLE (RR NAME ROMEO), IL 60441

SBA Loan Lender

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

This lender provides SBA 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

812199 - Personal Care Services

Loan Approval Date

10/18/2002

Loan Approval Gross Amount

$240,600

Loan Approval from the SBA

Of the total $240,600 loan amount, the SBA guaranteed $180,450.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Executive Tans franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Cit Small Business Lending Corp are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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