Garden Grove, CA Entrepreneur Gets SBA Loan to Buy Surf City Squeeze Franchise

Need money to buy a Surf City Squeeze franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Surf City Squeeze franchise may simply require a phone call to a local SBA banker. In 2004, Bank Of America issued an SBA franchise loan to an entrepreneur in Garden Grove, California. Because Surf City Squeeze was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

NEW'S PAINTING, INC. DBA TWIST
GARDEN GROVE, CA 92844

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

238320 - Painting and Wall Covering Contractors

Loan Approval Date

11/16/2004

Loan Approval Gross Amount

$61,200

Loan Approval from the SBA

Of the total $61,200 loan amount, the SBA guaranteed $30,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Surf City Squeeze franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Surf City Squeeze

Famous Venture Capitalists

Banks in Charlotte, North Carolina

North Carolina SBA 7A Lenders