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November 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Wilshire State Bank Los Angeles Business Loans > National Vitamin Stores Inc Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Borrow Money to Buy a General Nutrition Center FranchiseNeed a loan to invest in a General Nutrition Center franchise? Wilshire State Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Buena Park, California needed money to invest in a General Nutrition Center franchise back in 2004. Wilshire State Bank issued an SBA franchise loan. Here are the details on this California small business loan. SBA Loan Borrower NATIONAL VITAMIN STORES INC SBA Loan Lender WILSHIRE STATE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 446191 - Food Supplement Stores Loan Approval Date 8/4/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a General Nutrition Center franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs. Getting an SBA Loan For Your Business If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wilshire State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: General Nutrition Centers / GNC Live Well Obtaining Funding From a Venture Capitalist Small Bank Loans in Los Angeles, California Getting a Business Loan in California
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