Pennsylvania Entrepreneur Secures Financing to Buy Mr. Transmission Franchise

Borrowing money to purchase a Mr. Transmission franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Mr. Transmission franchise shouldn't be too tough. In 2006, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Bristol, Pennsylvania. Because Mr. Transmission was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis.

SBA Loan Borrower

1231 BRISTOL PIKE PARTNERS LP
BRISTOL, PA 19077

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

811113 - Automotive Transmission Repair

Loan Approval Date

9/29/2006

Loan Approval Gross Amount

$544,000

Loan Approval from the SBA

Of the total $544,000 loan amount, the SBA guaranteed $408,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mr. Transmission franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the borrowed money would help generate 4 new jobs.

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

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Mr. Transmission

The Friends and Family Network

Small Bank Loans in Livingston, New Jersey

Getting an SBA Loan in New Jersey