Virginia Beach, VA Entrepreneur Gets SBA Loan to Buy Daily Grind Franchise

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

Daily Grind franchise loans are available to Virginia Beach, Virginia 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 Daily Grind franchise in 2005. We've got all the details on this Virginia small business loan.

SBA Loan Borrower

DAILY GRIND UNWIND
VIRGINIA BEACH, VA 23451

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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/21/2005

Loan Approval Gross Amount

$204,500

Loan Approval from the SBA

Of the total $204,500 loan amount, the SBA guaranteed $153,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Daily Grind franchise. At the time of the loan, the company had 10 employees. The loan application indicated that the loan would help generate 10 new jobs.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Cit Small Business Lending Corp are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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Banks in Livingston, New Jersey

New Jersey SBA 7A Banks