Cit Small Business Lending Corp Provides SBA Loan to Buy El Pollo Loco Franchise

Need money to invest in an El Pollo Loco franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an El Pollo Loco franchise requires some effort but others before you have been successful. In 2004, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in La Habra, California. Because El Pollo Loco was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

EL POLLO LOCO
LA HABRA, CA 90631

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

722211 - Limited-Service Restaurants

Loan Approval Date

6/4/2004

Loan Approval Gross Amount

$971,000

Loan Approval from the SBA

Of the total $971,000 loan amount, the SBA guaranteed $728,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an El Pollo Loco franchise. At the time of the loan, the company had 60 employees. This SBA loan request indicated that the loan would help retain 60 existing jobs.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Cit Small Business Lending Corp are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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