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April 29, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > David Co And Auto Management I Loan | ||||
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Tips for Borrowing Money to Buy a Franchise
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California Entrepreneur Secures Financing to Buy Maaco Auto Painting Center FranchiseNeed money to purchase a Maaco Auto Painting Center franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Hayward, California needed money to invest in a Maaco Auto Painting Center franchise back in 2006. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this California small business loan. SBA Loan Borrower DAVID CO AND AUTO MANAGEMENT I SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 2/17/2006 Loan Approval Gross Amount $1,725,000 Loan Approval from the SBA Of the total $1,725,000 loan amount, the SBA guaranteed $1,293,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Maaco Auto Painting Center franchise. At the time of the loan, the company had 15 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 14 existing jobs. Start the Process for Getting an SBA Loan Today! 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. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Advice on Getting a Small Business Loan Who Lends Money to Small Businesses in Livingston, New Jersey
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