Maryland Entrepreneur Secures Financing to Buy California Tortilla Franchise

Borrowing money to buy a California Tortilla franchise? Sandy Spring Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a California Tortilla franchise? If so, here's a 2004 SBA franchise loan that you should know about. Sandy Spring Bank was the lender and the entrepreneur was based in Bowie, Maryland.

SBA Loan Borrower

CALIFORNIA TORTILLA
BOWIE, MD 20716

SBA Loan Lender

SANDY SPRING BANK
17801 GEORGIA AVE
OLNEY, MD 20832

This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/2/2004

Loan Approval Gross Amount

$424,000

Loan Approval from the SBA

Of the total $424,000 loan amount, the SBA guaranteed $318,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a California Tortilla franchise. At the time of the loan, the company had 25 employees. The loan application did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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 important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Sandy Spring Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Sandy Spring Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

California Tortilla

Business Credit Evaluation

SBA Banks in Olney, Maryland

Maryland SBA Banks