Saco, ME Entrepreneur Gets SBA Loan to Buy Just-A-Buck Franchise

Need a loan to invest in a Just-A-Buck franchise? The Cit Group, Inc. has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Saco, Maine needed money to invest in a Just-A-Buck franchise back in 2000. The Cit Group, Inc. issued an SBA franchise loan. Here are the details on this Maine small business loan.

SBA Loan Borrower

JUST-A-BUCK
SACO, ME 04072

SBA Loan Lender

THE CIT GROUP, INC.
650 CIT DR
LIVINGSTON, NJ 07039

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5311 - Department Stores

NAICS Code

452110 - Department Stores

Loan Approval Date

11/3/2000

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $108,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Just-A-Buck franchise. At the time of the loan, the company had 12 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need business start up money in Saco ME, you ought to talk with a local Saco SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Saco businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like The Cit Group, Inc. and they will explain how you can get an SBA loan for your company.

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:

Just-A-Buck

Debt Financing

Small Business Banks in Livingston, New Jersey

SBA Lenders in New Jersey