Loan to Buy Fatburger Franchise Issued By Far East National Bank

Need money to buy a Fatburger franchise? Far East National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Fatburger franchise may simply require a phone call to a local SBA banker. In 2004, Far East National Bank issued an SBA franchise loan to an entrepreneur in Palm Desert, California. Because Fatburger was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

LADARA-CULVER FOODS INC
PALM DESERT, CA 92260

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/30/2004

Loan Approval Gross Amount

$325,000

Loan Approval from the SBA

Of the total $325,000 loan amount, the SBA guaranteed $243,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Fatburger franchise. At the time of the loan, the company had 40 employees. The SBA loan documents indicated that the loan would help generate 48 new jobs and retain 48 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 $325,000 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:

Fatburger Corporation

The Art of Bootstrapping

SBA Banks in Los Angeles, California

Where to Get an SBA Loan California