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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Escondido, Business Loans > Pacific Western Bank Escondido Business Loans > Burger King #4107 Loan | ||||
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Where Can I Find Franchise Loans in Los Angeles, California?
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California Entrepreneur Secures Financing to Buy Burger King FranchiseBorrowing money to buy a Burger King franchise? Pacific Western Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Burger King franchise is doable. In 2003, Pacific Western Bank issued an SBA franchise loan to an entrepreneur in Los Angeles, California. Because Burger King was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis. SBA Loan Borrower BURGER KING #4107 SBA Loan Lender PACIFIC WESTERN BANK 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 722211 - Limited-Service Restaurants Loan Approval Date 8/12/2003 Loan Approval Gross Amount $81,000 Loan Approval from the SBA Of the total $81,000 loan amount, the SBA guaranteed $60,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Burger King franchise. At the time of the loan, the company had 30 employees. The SBA loan documents indicated that the loan would help generate 7 new jobs and retain 30 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This SBA loan was for $81,000. How would you spend $81,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Dealing With Venture Capitalists Good Banks for Small Business in Escondido, California
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