Cit Small Business Lending Corp Provides SBA Loan to Buy Jack-In-The-Box Franchise

Borrowing money to purchase a Jack-In-The-Box franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in West Covina, California needed money to invest in a Jack-In-The-Box franchise back in 2003. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

JACK IN THE BOX RESTAURANTS
WEST COVINA, CA 91791

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

9/22/2003

Loan Approval Gross Amount

$999,000

Loan Approval from the SBA

Of the total $999,000 loan amount, the SBA guaranteed $749,250.

More Information on This SBA Loan

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

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Jack in the Box Inc.

Realistic Debt Financing Options

Banks in Livingston, New Jersey

New Jersey SBA Bank Lenders