Loan Census Banking News and Information
October 17, 2021  
 
 
  Business Loan Information  
 

Loans to Buy a Franchise in Alabama

 

 
Loan Census SBA Loan Info

Loan to Buy Sears Catalog Store Franchise Issued By Cit Small Business Lending Corp

Need money to buy a Sears Catalog Store franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Sears Catalog Store franchise loans are available to Thomasville, Alabama 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 Sears Catalog Store franchise in 2000. We've got all the details on this Alabama small business loan.

SBA Loan Borrower

SEARS THOMASVILLE AL
THOMASVILLE, AL 36784

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.

SIC Code

5722 - Household Appliance Stores

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

6/14/2000

Loan Approval Gross Amount

$530,000

Loan Approval from the SBA

Of the total $530,000 loan amount, the SBA guaranteed $397,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Sears Catalog Store franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help create 6 new jobs.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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.

Related Links:

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Best Livingston, New Jersey Banks for Small Business

New Jersey SBA Bank Lenders