Borrow Money to Buy a Closet Factory the Franchise

Need money 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.

If you live near Sterling Heights, Michigan and are interested in buying a Closet Factory the franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Cit Small Business Lending Corp. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

THE CLOSET FACTORY
STERLING HEIGHTS, MI 48314

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.

SIC Code

1799 - Special Trade Contractors

Loan Approval Date

9/25/2000

Loan Approval Gross Amount

$147,000

Loan Approval from the SBA

Of the total $147,000 loan amount, the SBA guaranteed $110,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Closet Factory the franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the borrowed money would help generate 6 new jobs.

Start the Process for Getting an SBA Loan Today!

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.

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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