Spectrum Bank Provides SBA Loan to Buy Juice It Up Franchise

Borrowing money to buy a Juice It Up franchise? Spectrum Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Corona, California needed money to invest in a Juice It Up franchise back in 2005. Spectrum Bank issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

JUICE IT UP
CORONA, CA 92880

SBA Loan Lender

SPECTRUM BANK
15615 ALTON PKWY
IRVINE, CA 92618

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

722211 - Limited-Service Restaurants

Loan Approval Date

11/2/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Juice It Up franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 7 new jobs.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source

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 Spectrum 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.

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