Sevierville, TN Entrepreneur Gets SBA Loan to Buy Badcock Home Furniture & More Franchise

Borrowing money to invest in a Badcock Home Furniture & More 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 Badcock Home Furniture & More franchise may simply require a phone call to a local SBA banker. In 2005, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Sevierville, Tennessee. Because Badcock Home Furniture & More was registered with the SBA's registry of franchises, this Tennessee small business loan was issued on an expedited basis.

SBA Loan Borrower

BADCOCK & MORE HOME FURNISHING
SEVIERVILLE, TN 37876

SBA Loan Lender

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

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

9/20/2005

Loan Approval Gross Amount

$1,318,000

Loan Approval from the SBA

Of the total $1,318,000 loan amount, the SBA guaranteed $988,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Badcock Home Furniture & More franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new 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.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Cit Small Business Lending Corp so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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