California Entrepreneur Secures Financing to Buy Burger King Franchise

Need a loan to buy a Burger King franchise? First Business Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Burger King franchise may simply require a phone call to a local SBA banker. In 2002, First Business Bank issued an SBA franchise loan to an entrepreneur in Ramona, 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
RAMONA, CA 92065

SBA Loan Lender

FIRST BUSINESS BANK
1315 MAIN ST
RAMONA, CA 92065

This SBA bank loan was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA provides a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/19/2002

Loan Approval Gross Amount

$937,000

Loan Approval from the SBA

Of the total $937,000 loan amount, the SBA guaranteed $702,750.

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 44 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from First Business Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Burger King Corporation

Advice on Getting a Small Business Loan

Banks in Ramona, California

Getting an SBA Loan in California