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April 19, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Sonic Restaurants Loan | ||||
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Cit Small Business Lending Corp SBA Franchise Loans
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Cit Small Business Lending Corp Provides SBA Loan to Buy Sonic FranchiseBorrowing money to invest in a Sonic franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Sweetwater, Tennessee needed money to invest in a Sonic franchise back in 2003. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Tennessee small business loan. SBA Loan Borrower SONIC RESTAURANTS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This lender provides SBA debt financing 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 722211 - Limited-Service Restaurants Loan Approval Date 1/8/2003 Loan Approval Gross Amount $891,000 Loan Approval from the SBA Of the total $891,000 loan amount, the SBA guaranteed $668,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Sonic franchise. At the time of the loan, the company had 15 employees. The loan application indicated that the loan would help retain 15 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. If you need emergency business money, 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: Raising VC Money for Social Networking Companies SBA Banks in Livingston, New Jersey
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