Cit Small Business Lending Corp Provides SBA Loan to Buy Woodcraft Franchise Corporation Franchise

Need a loan to buy a Woodcraft Franchise Corporation franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Wilmer, Alabama needed money to invest in a Woodcraft Franchise Corporation franchise back in 2004. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Alabama small business loan.

SBA Loan Borrower

WOODCRAFT OF MOBILE
WILMER, AL 36587

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

453998 - Store Retailers

Loan Approval Date

7/7/2004

Loan Approval Gross Amount

$358,000

Loan Approval from the SBA

Of the total $358,000 loan amount, the SBA guaranteed $268,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Woodcraft Franchise Corporation franchise. At the time of the loan, the company had 6 employees. The loan application indicated that the borrowed money would help generate 6 new jobs.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Cit Small Business Lending Corp so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Obtaining Funding - Friends and Family

SBA 7A Lenders in Livingston, New Jersey

New Jersey SBA Bank Lenders