Indiana Entrepreneur Secures Financing to Buy Beef O'Brady's Franchise

Borrowing money to buy a Beef O'Brady's franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

If you live near Terre Haute, Indiana and are interested in buying a Beef O'Brady's franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 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

BEEF O'BRADY'S
TERRE HAUTE, IN 47802

SBA Loan Lender

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

This lender provides SBA bank 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

311999 - Food Manufacturing

Loan Approval Date

10/3/2005

Loan Approval Gross Amount

$408,000

Loan Approval from the SBA

Of the total $408,000 loan amount, the SBA guaranteed $306,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Beef O'Brady's franchise. At the time of the loan, the company had 40 employees. The loan application indicated that the loan would help generate 1 new job and retain 39 existing jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This SBA loan was for $408,000. How would you spend $408,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Beef O'Brady's Family Sports Pubs

Obtaining Funding - Getting Venture Capital

Who Lends Money to Small Businesses in Livingston, New Jersey

Browse All Business Loan Sources for New Jersey