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December 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Luis Obispo, Business Loans > Coast National Bank San Luis Obispo Business Loans > Coast Electronics Loan | ||||
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Coast National Bank Commercial Loans for Franchisees
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Borrow Money to Buy a Radio Shack FranchiseNeed a loan to buy a Radio Shack franchise? Coast National Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Radio Shack franchise? If so, here's a 2000 SBA franchise loan that you should know about. Coast National Bank was the lender and the entrepreneur was based in Los Osos, California. SBA Loan Borrower COAST ELECTRONICS SBA Loan Lender COAST NATIONAL BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5731 - Radio, TV, and Consumer Electronics Retailing Loan Approval Date 5/10/2000 Loan Approval Gross Amount $93,000 Loan Approval from the SBA Of the total $93,000 loan amount, the SBA guaranteed $74,400. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Radio Shack franchise. At the time of the loan, the company had 16 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Coast National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Good Banks for Small Business in San Luis Obispo, California
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