Borrow Money to Buy a Great Wraps Franchise

Need a loan to buy a Great Wraps franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Great Wraps franchise shouldn't be overly burdensome. In 2004, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Fountain Valley (talbert), California. Because Great Wraps was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

GREAT WRAPS & CHEESESTEAKS
FOUNTAIN VALLEY (TALBERT), CA 92708

SBA Loan Lender

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

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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/30/2004

Loan Approval Gross Amount

$222,800

Loan Approval from the SBA

Of the total $222,800 loan amount, the SBA guaranteed $167,100.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Great Wraps franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the funding would help generate 7 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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:

Great Wraps!

Microlending as a Small Business Funding Source

Small Business Banks in Livingston, New Jersey

Find an SBA Lender in New Jersey