California Entrepreneur Secures Financing to Buy Packaging Store Franchise

Borrowing money to purchase a Packaging Store franchise? Summit State Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Packaging Store franchise requires some effort but others before you have been successful. In 2003, Summit State Bank issued an SBA franchise loan to an entrepreneur in San Anselmo, California. Because Packaging Store was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

PACKAGING STORE, THE
SAN ANSELMO, CA 94960

SBA Loan Lender

SUMMIT STATE BANK
500 BICENTENNIAL WAY
SANTA ROSA, CA 95403

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4783 - Packing and Crating

NAICS Code

561910 - Packaging and Labeling Services

Loan Approval Date

10/27/2003

Loan Approval Gross Amount

$112,500

Loan Approval from the SBA

Of the total $112,500 loan amount, the SBA guaranteed $95,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Packaging Store franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

Getting a Small Business Loan

Best Banks in Santa Rosa, California

Where to Get an SBA Loan California