Connecticut Entrepreneur Secures Financing to Buy Hobbytown Usa Franchise

Need a loan to purchase a Hobbytown Usa 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 Hobbytown Usa franchise is doable. In 2003, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Southington, Connecticut. Because Hobbytown Usa was registered with the SBA's registry of franchises, this Connecticut small business loan was issued on an expedited basis.

SBA Loan Borrower

HOBBYTOWN USA
SOUTHINGTON, CT 06489

SBA Loan Lender

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

This lender provides SBA small business loans 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

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

6/6/2003

Loan Approval Gross Amount

$263,000

Loan Approval from the SBA

Of the total $263,000 loan amount, the SBA guaranteed $197,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Hobbytown Usa franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the funding would help create 4 new jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

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:

HobbyTown USA

Business Incubators

SBA Approved Banks in Livingston, New Jersey

Where to Get an SBA Loan New Jersey