Florida Entrepreneur Secures Financing to Buy Wireless Toyz Franchise

Borrowing money to buy a Wireless Toyz 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 Wireless Toyz franchise shouldn't be overly burdensome. In 2006, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Safety Harbor, Florida. Because Wireless Toyz was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

WIRELESS TOYZ
SAFETY HARBOR, FL 34695

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

443112 - Radio, Television, and Electronics Stores

Loan Approval Date

1/31/2006

Loan Approval Gross Amount

$230,500

Loan Approval from the SBA

Of the total $230,500 loan amount, the SBA guaranteed $172,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Wireless Toyz franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the borrowed money would help generate 10 new jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Wireless Toyz

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New Jersey SBA Banks