Loan to Buy Jimboy's Tacos Franchise Issued By Fullerton Community Bank, Fsb

Borrowing money to buy a Jimboy's Tacos franchise? Fullerton Community Bank, Fsb has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Sacramento, California needed money to invest in a Jimboy's Tacos franchise back in 2005. Fullerton Community Bank, Fsb issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

JIMBOY'S TACOS #4
SACRAMENTO, CA 95816

SBA Loan Lender

FULLERTON COMMUNITY BANK, FSB
200 W COMMONWEALTH AVE
FULLERTON, CA 92832

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

4/21/2005

Loan Approval Gross Amount

$1,290,000

Loan Approval from the SBA

Of the total $1,290,000 loan amount, the SBA guaranteed $967,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Jimboy's Tacos franchise. At the time of the loan, the company had 18 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Determining Proper Capital Structure for a Business

Find an SBA Lender in Fullerton, California

Where to Get an SBA Loan California