Glendale, CA Entrepreneur Gets SBA Loan to Buy Maui Wowi Franchise

Borrowing money to buy a Maui Wowi franchise? First California Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Glendale, California and are interested in buying a Maui Wowi franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by First California Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MAUI WOWI HAWAIIAN
GLENDALE, CA 91202

SBA Loan Lender

FIRST CALIFORNIA BANK
1100 PASEO CAMARILLO
CAMARILLO, CA 93010

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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

9/7/2006

Loan Approval Gross Amount

$318,000

Loan Approval from the SBA

Of the total $318,000 loan amount, the SBA guaranteed $238,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Maui Wowi franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

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

While you may be able to find other ways to get money to start a business, 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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