Loan to Buy Coffee Beanery retail Coffee Franchise Issued By Cit Small Business Lending Corp

Borrowing money to purchase a Coffee Beanery retail Coffee franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Coffee Beanery retail Coffee franchise loans are available to Los Angeles, California 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 Coffee Beanery retail Coffee franchise in 2002. We've got all the details on this California small business loan.

SBA Loan Borrower

THE COFFEE BEANERY LTD
LOS ANGELES, CA 90021

SBA Loan Lender

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

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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

9/13/2002

Loan Approval Gross Amount

$227,000

Loan Approval from the SBA

Of the total $227,000 loan amount, the SBA guaranteed $170,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Coffee Beanery retail Coffee franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs.

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

Remember, 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.

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:

Bank Credit Lines

SBA 7A Banks in Livingston, New Jersey

New Jersey SBA 7A Lenders