Cit Small Business Lending Corp Provides SBA Loan to Buy Primrose School daycare Franchise

Borrowing money to purchase a Primrose School daycare franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Primrose School daycare franchise? If so, here's a 2004 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Spring, Texas.

SBA Loan Borrower

PRIMROSE SCHOOL OF CHAMPIONS
SPRING, TX 77379

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

624410 - Child Day Care Services

Loan Approval Date

7/21/2004

Loan Approval Gross Amount

$1,050,000

Loan Approval from the SBA

Of the total $1,050,000 loan amount, the SBA guaranteed $745,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Primrose School daycare franchise. At the time of the loan, the company had 37 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 35 existing jobs.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Spring TX, you ought to talk with a local Spring SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Spring businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Primrose School Franchising Company

Family and Friend Investors - Your First Financiers

Where to Get an SBA Loan in Livingston, New Jersey

SBA Participating Banks in New Jersey