Washington Entrepreneur Secures Financing to Buy Taco Del Mar Franchise

Need a loan to buy a Taco Del Mar franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Taco Del Mar franchise loans are available to Monroe, Washington entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Wells Fargo Bank, based in Sioux Falls, South Dakota, issued an SBA franchise loan for a Taco Del Mar franchise in 2007. We've got all the details on this Washington small business loan.

SBA Loan Borrower

J & E, QUINTERO SALES COMPANY L.L.C.
MONROE, WA 98272

SBA Loan Lender

WELLS FARGO BANK
101 N PHILIPS AVE
SIOUX FALLS, SD 57104

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

12/17/2007

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Taco Del Mar franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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.

Related Links:

Taco Del Mar

Family and Friend Investors - Your First Financiers

SBA Participating Banks in Sioux Falls, South Dakota

Getting an SBA Loan in South Dakota