Loan to Buy Flowerama Franchise Issued By Cit Small Business Lending Corp

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

Want to borrow money to buy a Flowerama franchise? If so, here's a 2002 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Round Lake Beach, Illinois.

SBA Loan Borrower

FLOWERAMA
ROUND LAKE BEACH, IL 60073

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

453110 - Florists

Loan Approval Date

12/17/2002

Loan Approval Gross Amount

$780,000

Loan Approval from the SBA

Of the total $780,000 loan amount, the SBA guaranteed $585,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Flowerama franchise. At the time of the loan, the company had 24 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 14 existing jobs.

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

We can help you find the best banks for small businesses in Round Lake Beach or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Flowerama of America, Inc.

Obtaining Funding - How to Decide How Much to Raise

SBA 7A Banks for Livingston, New Jersey Loans

Where to Get an SBA Loan New Jersey