California Entrepreneur Secures Financing to Buy Line-X Franchise

Borrowing money to buy a Line-X franchise? California Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Line-X franchise may simply require a phone call to a local SBA banker. In 2004, California Bank & Trust issued an SBA franchise loan to an entrepreneur in El Cajon, California. Because Line-X was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

MULTI COATINGS INCORPORATED
El Cajon, CA 92020

SBA Loan Lender

CALIFORNIA BANK & TRUST
2399 GATEWAY OAKS DR, STE 110
SACRAMENTO, CA 95833

The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

12/17/2004

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 Line-X franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like California Bank & Trust and they will explain how you can get an SBA loan for your company.

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:

Line-X Corp.

Bank Credit Lines

Small Bank Loans in Sacramento, California

California SBA 7A Lenders