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April 25, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Exxon Xpress Lube Loan | ||||
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Business Loans for Alexandria Business Owners
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Alexandria, VA Entrepreneur Gets SBA Loan to Buy Exxon FranchiseBorrowing money to buy an Exxon franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Alexandria, Virginia needed money to invest in an Exxon franchise back in 2000. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Virginia small business loan. SBA Loan Borrower EXXON XPRESS LUBE SBA Loan Lender CIT SMALL BUSINESS LENDING CORP Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7549 - Automotive Services Loan Approval Date 4/6/2000 Loan Approval Gross Amount $800,000 Loan Approval from the SBA Of the total $800,000 loan amount, the SBA guaranteed $600,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy an Exxon franchise. At the time of the loan, the company had 12 employees. The SBA loan documents indicated that the loan would help generate 12 new jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Cit Small Business Lending Corp that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Good Banks for Small Business in Livingston, New Jersey Browse All Business Loan Sources for New Jersey
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