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December 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Garden Grove, Business Loans > Us Metro Bank Garden Grove Business Loans > B & B Ventures, Inc. Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Borrow Money to Buy an Arco gas Station FranchiseNeed a loan to buy an Arco gas Station franchise? Us Metro Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Rancho Cucamonga, California and are interested in buying an Arco gas Station franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by Us Metro Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower B & B VENTURES, INC. SBA Loan Lender US METRO BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 12/4/2006 Loan Approval Gross Amount $784,000 Loan Approval from the SBA Of the total $784,000 loan amount, the SBA guaranteed $588,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy an Arco gas Station franchise. At the time of the loan, the company had 13 employees. The SBA loan documents did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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: SBA Participating Banks in Garden Grove, California
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