Cit Small Business Lending Corp Provides SBA Loan to Buy Oil Can Henry Franchise

Borrowing money to buy an Oil Can Henry franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in College Place, Washington needed money to invest in an Oil Can Henry franchise back in 2006. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Washington small business loan.

SBA Loan Borrower

OIL CAN HENRY'S COLLEGE PLACE
COLLEGE PLACE, WA 99324

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

811191 - Automotive Oil Change and Lubrication Shops

Loan Approval Date

7/24/2006

Loan Approval Gross Amount

$1,115,000

Loan Approval from the SBA

Of the total $1,115,000 loan amount, the SBA guaranteed $836,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Oil Can Henry franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the funding would help create 3 new jobs.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,115,000 loan. Remember, if it to be, it is up to me!

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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