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November 15, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Pinch A Penny Loan | ||||
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Where to Get a Small Business Loan to Purchase a Franchise
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Loan to Buy Pinch-A-Penny Franchise Issued By Cit Small Business Lending CorpNeed money to invest in a Pinch-A-Penny 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 Pinch-A-Penny franchise may simply require a phone call to a local SBA banker. In 2006, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Royal Palm Beach, Florida. Because Pinch-A-Penny was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis. SBA Loan Borrower PINCH A PENNY SBA Loan Lender CIT SMALL BUSINESS LENDING CORP 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 453998 - Store Retailers Loan Approval Date 11/17/2006 Loan Approval Gross Amount $1,395,000 Loan Approval from the SBA Of the total $1,395,000 loan amount, the SBA guaranteed $1,046,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Pinch-A-Penny franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. This SBA loan was for $1,395,000. How would you spend $1,395,000 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. Related Links: Who Lends Money to Small Businesses in Livingston, New Jersey
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