Loan to Buy Golden Corral restaurant Franchise Issued By Cit Small Business Lending Corp

Need a loan to invest in a Golden Corral restaurant 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 Golden Corral restaurant franchise is doable. In 2005, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Schererville, Indiana. Because Golden Corral restaurant was registered with the SBA's registry of franchises, this Indiana small business loan was issued on an expedited basis.

SBA Loan Borrower

GOLDEN CORRAL RESTAURANT
SCHERERVILLE, IN 46375

SBA Loan Lender

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

This lender provides SBA debt financing 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

722110 - Full-Service Restaurants

Loan Approval Date

12/2/2005

Loan Approval Gross Amount

$625,000

Loan Approval from the SBA

Of the total $625,000 loan amount, the SBA guaranteed $468,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Golden Corral restaurant franchise. At the time of the loan, the company had 80 employees. This SBA loan request indicated that the loan would help retain 80 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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.

Related Links:

Golden Corral Buffet & Grill

Angel Investors

Small Business Banks in Livingston, New Jersey

Getting an SBA Loan in New Jersey