Loan to Buy Executive Tans Franchise Issued By Cit Small Business Lending Corp

Need a loan to purchase an Executive Tans franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Toledo, Ohio needed money to invest in an Executive Tans franchise back in 2003. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Ohio small business loan.

SBA Loan Borrower

EXECUTIVE TANS # 301
TOLEDO, OH 43606

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

2/21/2003

Loan Approval Gross Amount

$284,000

Loan Approval from the SBA

Of the total $284,000 loan amount, the SBA guaranteed $213,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Executive Tans franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Toledo or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Executive Tans

Raising Venture Capital

Good Banks for Small Business in Livingston, New Jersey

New Jersey SBA 7A Lenders