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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Irvine, Business Loans > Metropacific Bank Irvine Business Loans > Sns Foods, Inc. Dba Sizzler No. 3002 Loan | ||||
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Tips for Borrowing Money to Buy a Franchise
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Gardena, CA Entrepreneur Gets SBA Loan to Buy Sizzler Family Steakhouse FranchiseNeed money to invest in a Sizzler Family Steakhouse franchise? Metropacific Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Sizzler Family Steakhouse franchise? If so, here's a 2007 SBA franchise loan that you should know about. Metropacific Bank was the lender and the entrepreneur was based in Gardena, California. SBA Loan Borrower SNS FOODS, INC. DBA SIZZLER NO. 3002 SBA Loan Lender METROPACIFIC BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 722110 - Full-Service Restaurants Loan Approval Date 10/14/2007 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 Sizzler Family Steakhouse franchise. At the time of the loan, the company had 22 employees. The SBA loan documents indicated that the loan would help retain 22 existing jobs. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. 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. Related Links: SBA 7A Lenders in Irvine, California
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