Loan to Buy Closet Factory the Franchise Issued By Cit Small Business Lending Corp

Need a loan to buy a Closet Factory the franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Closet Factory the franchise loans are available to Spring, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cit Small Business Lending Corp, based in Livingston, New Jersey, issued an SBA franchise loan for a Closet Factory the franchise in 2000. We've got all the details on this Texas small business loan.

SBA Loan Borrower

THE CLOSET FACTORY
SPRING, TX 77388

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.

SIC Code

5719 - Homefurnishings Stores

Loan Approval Date

7/19/2000

Loan Approval Gross Amount

$365,000

Loan Approval from the SBA

Of the total $365,000 loan amount, the SBA guaranteed $273,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Closet Factory the franchise. At the time of the loan, the company had 25 employees. The SBA loan documents indicated that the funding would help generate 25 new jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Cit Small Business Lending Corp and they will explain how you can get an SBA loan for your company.

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:

Business Incubators

SBA 7A Lenders in Livingston, New Jersey

Getting a Business Loan in New Jersey