Reseda, CA Entrepreneur Gets SBA Loan to Buy Cousins Submarines restaurant Franchise

Need a loan to buy a Cousins Submarines restaurant franchise? First Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Reseda, California and are interested in buying a Cousins Submarines restaurant franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by First Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

COUSINS SUBS
RESEDA, CA 91335

SBA Loan Lender

FIRST BANK
11901 OLIVE BLVD
CREVE COEUR, MO 63141

This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/23/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

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

Start the Process for Getting an SBA Loan Today!

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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