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July 9, 2020  
 
 
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California Entrepreneur Secures Financing to Buy Wetzel's Pretzel Franchise

Need money to purchase a Wetzel's Pretzel franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Wetzel's Pretzel franchise? If so, here's a 2001 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Lakewood, California.

SBA Loan Borrower

WETZELS PRETZELS
LAKEWOOD, CA 90714

SBA Loan Lender

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

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311811 - Retail Bakeries

Loan Approval Date

5/3/2001

Loan Approval Gross Amount

$149,500

Loan Approval from the SBA

Of the total $149,500 loan amount, the SBA guaranteed $127,075.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Wetzel's Pretzel franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Wetzel's Pretzels

The Art of Bootstrapping

SBA 7A Banks in Livingston, New Jersey

New Jersey SBA Banks