Community W. Bank Provides SBA Loan to Buy I Sold It Franchise

Need a loan to purchase an I Sold It franchise? Community W. Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an I Sold It franchise shouldn't be overly burdensome. In 2006, Community W. Bank issued an SBA franchise loan to an entrepreneur in Lilburn, Georgia. Because I Sold It was registered with the SBA's registry of franchises, this Georgia small business loan was issued on an expedited basis.

SBA Loan Borrower

I SOLD IT ON EBAY
LILBURN, GA 30047

SBA Loan Lender

COMMUNITY W. BANK
5827 HOLLISTER AVE
GOLETA, CA 93117

This lender provides SBA bank 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

453310 - Used Merchandise Stores

Loan Approval Date

3/29/2006

Loan Approval Gross Amount

$107,300

Loan Approval from the SBA

Of the total $107,300 loan amount, the SBA guaranteed $91,205.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an I Sold It franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 1 existing job.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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