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April 25, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Merlin's Muffler And Brake Loan | ||||
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Crystal Lake, Illinois Bank for SBA Loans
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Cit Small Business Lending Corp Provides SBA Loan to Buy Merlin's Muffler FranchiseBorrowing money to buy a Merlin's Muffler franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA. Merlin's Muffler franchise loans are available to Crystal Lake, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cit Small Business Lending Corp, based in Livingston, New Jersey, issued an SBA franchise loan for a Merlin's Muffler franchise in 2006. We've got all the details on this Illinois small business loan. SBA Loan Borrower MERLIN'S MUFFLER AND BRAKE SBA Loan Lender CIT SMALL BUSINESS LENDING CORP 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 811112 - Automotive Exhaust System Repair Loan Approval Date 8/25/2006 Loan Approval Gross Amount $576,000 Loan Approval from the SBA Of the total $576,000 loan amount, the SBA guaranteed $432,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Merlin's Muffler 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: Best Banks for Small Business in Livingston, New Jersey
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