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July 9, 2020  
 
 
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Cit Small Business Lending Corp SBA Franchise Loans

 

 
Loan Census SBA Loan Info

Nashville, TN Entrepreneur Gets SBA Loan to Buy Wetzel's Pretzel Franchise

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

An entrepreneur in Nashville, Tennessee needed money to invest in a Wetzel's Pretzel franchise back in 2000. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

WETZELS PRETZELS
NASHVILLE, TN 37214

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.

SIC Code

5812 - Eating Places

Loan Approval Date

2/7/2000

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $120,000.

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 6 employees. The loan application indicated that the funding would help generate 6 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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $160,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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

Equity Financing

Banks in Livingston, New Jersey

SBA Lenders in New Jersey