Loan to Buy Juan's Mexicali Franchise Issued By Newtek Small Business Finance Inc.

Borrowing money to invest in a Juan's Mexicali franchise? Newtek Small Business Finance Inc. has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in San Jacinto, California needed money to invest in a Juan's Mexicali franchise back in 2006. Newtek Small Business Finance Inc. issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

JUAN'S MEXICALI
SAN JACINTO, CA 92583

SBA Loan Lender

NEWTEK SMALL BUSINESS FINANCE INC.
1440 BROADWAY, 17TH FL.
NEW YORK, NY 10018

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/19/2006

Loan Approval Gross Amount

$381,300

Loan Approval from the SBA

Of the total $381,300 loan amount, the SBA guaranteed $285,975.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Juan's Mexicali franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 13 existing jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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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