Westmont, IL Entrepreneur Gets SBA Loan to Buy Flowerama Franchise

Need a loan to invest in a Flowerama franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

If you live near Westmont, Illinois and are interested in buying a Flowerama franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 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

FLOWERAMA
WESTMONT, IL 60559

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

453110 - Florists

Loan Approval Date

7/11/2001

Loan Approval Gross Amount

$167,800

Loan Approval from the SBA

Of the total $167,800 loan amount, the SBA guaranteed $125,850.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Flowerama franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the funding would help generate 8 new jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This SBA loan was for $167,800. How would you spend $167,800 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:

Flowerama of America, Inc.

Choosing VC Firms

Small Business Banks in Livingston, New Jersey

Where to Get an SBA Loan New Jersey