California Entrepreneur Secures Financing to Buy Great Steak And Potato Company the Franchise

Borrowing money to purchase a Great Steak And Potato Company the franchise? Far East National Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Lakewood, California and are interested in buying a Great Steak And Potato Company the franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Far East National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

GARDEN GOURMET/CALIFORNIA SQUE
LAKEWOOD, CA 90714

SBA Loan Lender

FAR EAST NATIONAL BANK
977 N BROADWAY
LOS ANGELES, CA 90012

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/21/2001

Loan Approval Gross Amount

$490,000

Loan Approval from the SBA

Of the total $490,000 loan amount, the SBA guaranteed $367,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Great Steak And Potato Company the franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 28 new jobs and retain 28 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $490,000 loan. Remember, fight for what you want, and it will be yours!

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:

Realistic Debt Financing Options

SBA Banks in Los Angeles, California

Getting an SBA Loan in California