American Security Bank Provides SBA Loan to Buy Farmer Boys World's Greatest Restaur Franchise

Borrowing money to invest in a Farmer Boys World's Greatest Restaur franchise? American Security Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Fullerton, California needed money to invest in a Farmer Boys World's Greatest Restaur franchise back in 2005. American Security Bank issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

FARMER BOYS
FULLERTON, CA 92832

SBA Loan Lender

AMERICAN SECURITY BANK
1 MACARTHUR PL, STE 110
SANTA ANA, CA 92707

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/23/2005

Loan Approval Gross Amount

$1,100,000

Loan Approval from the SBA

Of the total $1,100,000 loan amount, the SBA guaranteed $825,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Farmer Boys World's Greatest Restaur franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help generate 22 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

If you want money for new small business in Fullerton CA, you ought to talk with a local Fullerton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fullerton businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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