Canoga Park, CA Entrepreneur Gets SBA Loan to Buy Dream Dinners Franchise

Need money to invest in a Dream Dinners franchise? California Oaks State Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Canoga Park, California and are interested in buying a Dream Dinners franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by California Oaks State Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

HE ENTERPRISES, LLC
CANOGA PARK, CA 91304

SBA Loan Lender

CALIFORNIA OAKS STATE BANK
50 W HILLCREST DR
THOUSAND OAKS, CA 91360

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

722211 - Limited-Service Restaurants

Loan Approval Date

6/17/2005

Loan Approval Gross Amount

$181,500

Loan Approval from the SBA

Of the total $181,500 loan amount, the SBA guaranteed $90,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Dream Dinners franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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