Loan Census Banking News and Information
December 22, 2024  
 
 
  Business Loan Information  
 

Tips for Financing a Franchise

 

 
Loan Census SBA Loan Info

Rancho Cucamonga, CA Entrepreneur Gets SBA Loan to Buy Red Brick Pizza Franchise

Borrowing money to buy a Red Brick Pizza franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Red Brick Pizza franchise may simply require a phone call to a local SBA banker. In 2007, Banco Popular North America issued an SBA franchise loan to an entrepreneur in Rancho Cucamonga, California. Because Red Brick Pizza was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

REDBRICK PIZZA #601
RANCHO CUCAMONGA, CA 91730

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/25/2007

Loan Approval Gross Amount

$267,000

Loan Approval from the SBA

Of the total $267,000 loan amount, the SBA guaranteed $200,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Red Brick Pizza franchise. At the time of the loan, the company had 11 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 14 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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:

Red Brick Pizza

VC Firms on Twitter

Find an SBA Lender in New York City, New York

New York SBA Bank Lenders