Cit Small Business Lending Corp Provides SBA Loan to Buy Velocity Sports Performance Franchise

Borrowing money to buy a Velocity Sports Performance franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Velocity Sports Performance franchise loans are available to Wall, New Jersey 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 Velocity Sports Performance franchise in 2005. We've got all the details on this New Jersey small business loan.

SBA Loan Borrower

VELOCITY SPORTS PERFORMANCE
WALL, NJ 07719

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

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

10/28/2005

Loan Approval Gross Amount

$615,000

Loan Approval from the SBA

Of the total $615,000 loan amount, the SBA guaranteed $461,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Velocity Sports Performance franchise. At the time of the loan, the company had 11 employees. The loan application indicated that the loan would help create 11 new jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This SBA loan was for $615,000. How would you spend $615,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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