Borrow Money to Buy an Erbert & Gerbert's Subs & Clubs Franchise

Need a loan to invest in an Erbert & Gerbert's Subs & Clubs franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Erbert & Gerbert's Subs & Clubs franchise? If so, here's a 2000 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in St. Peter, Minnesota.

SBA Loan Borrower

ERBERT & GERBERT'S SUBS
ST. PETER, MN 56082

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.

SIC Code

5812 - Eating Places

Loan Approval Date

2/2/2000

Loan Approval Gross Amount

$101,500

Loan Approval from the SBA

Of the total $101,500 loan amount, the SBA guaranteed $81,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Erbert & Gerbert's Subs & Clubs franchise. At the time of the loan, the company had 35 employees. This SBA loan request indicated that the loan would help generate 15 new jobs and retain 20 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Cit Small Business Lending Corp so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Erbert & Gerbert's Subs & Clubs

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