San Diego, CA Entrepreneur Gets SBA Loan to Buy Rapid Results Bodywraps Franchise

Need a loan to buy a Rapid Results Bodywraps franchise? The Mechanics Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Rapid Results Bodywraps franchise is doable. In 2007, The Mechanics Bank issued an SBA franchise loan to an entrepreneur in San Diego, California. Because Rapid Results Bodywraps was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

RAPID RESULTS BODYWRAPS
SAN DIEGO, CA 92120

SBA Loan Lender

THE MECHANICS BANK
3170 HILLTOP MALL RD
RICHMOND, CA 94806

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

7/13/2007

Loan Approval Gross Amount

$214,000

Loan Approval from the SBA

Of the total $214,000 loan amount, the SBA guaranteed $160,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Rapid Results Bodywraps franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $214,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Understanding Dilution

Who Lends Money to Small Businesses in Richmond, California

SBA Lenders in California