Central Bank Provides SBA Loan to Buy California Closet closet Organizer Franchise

Need money to buy a California Closet closet Organizer franchise? Central Bank has a history of making these loans and they are guaranteed by the SBA.

California Closet closet Organizer franchise loans are available to Salt Lake City, Utah entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Central Bank, based in Provo, Utah, issued an SBA franchise loan for a California Closet closet Organizer franchise in 2002. We've got all the details on this Utah small business loan.

SBA Loan Borrower

CALIFORNIA CLOSETS
SALT LAKE CITY, UT 84116

SBA Loan Lender

CENTRAL BANK
75 N UNIVERSITY AVE
PROVO, UT 84601

This lender issued this particular 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

421220 - Home Furnishing Wholesalers

Loan Approval Date

7/31/2002

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 an existing business. This loan was used to buy a California Closet closet Organizer franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Central Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

California Closet Company, Inc.

Understanding Dilution

Banks in Provo, Utah

Utah SBA Bank Lenders