North Carolina Entrepreneur Secures Financing to Buy Firehouse Sues Franchise

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

If you live near Wilmington, North Carolina and are interested in buying a Firehouse Sues franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 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

FIREHOUSE SUBS
WILMINGTON, NC 28412

SBA Loan Lender

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

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/22/2005

Loan Approval Gross Amount

$201,800

Loan Approval from the SBA

Of the total $201,800 loan amount, the SBA guaranteed $151,350.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Firehouse Sues franchise. At the time of the loan, the company had 6 employees. The loan application indicated that the loan would help create 6 new 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.

If you need emergency money for small business, 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.

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