Manufacturers Bank Provides SBA Loan to Buy Cartridge World Stores Franchise

Borrowing money to purchase a Cartridge World Stores franchise? Manufacturers Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Cartridge World Stores franchise requires some effort but others before you have been successful. In 2005, Manufacturers Bank issued an SBA franchise loan to an entrepreneur in Sacramento, California. Because Cartridge World Stores was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

CARTRIDGE WORLD
SACRAMENTO, CA 95834

SBA Loan Lender

MANUFACTURERS BANK
515 S FIGUEROA
LOS ANGELES, CA 90071

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453210 - Office Supplies and Stationery

Loan Approval Date

7/8/2005

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cartridge World Stores franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business promised to use the money to hire new 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.

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