Borrow Money to Buy a Burger King Franchise

Borrowing money to purchase a Burger King franchise? Mission Community Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Burger King franchise? If so, here's a 2004 SBA franchise loan that you should know about. Mission Community Bank was the lender and the entrepreneur was based in San Luis Obispo, California.

SBA Loan Borrower

S & M RESTAURANTS NO 4 INC
SAN LUIS OBISPO, CA 93406

SBA Loan Lender

MISSION COMMUNITY BANK
581 HIGUERA ST
SAN LUIS OBISPO, CA 93401

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

722211 - Limited-Service Restaurants

Loan Approval Date

4/12/2004

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Burger King 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 16 new jobs and retain 3 existing jobs.

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

If you have been wondering how do i get money to start a business in San Luis Obispo CA, you ought to talk with a local San Luis Obispo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to San Luis Obispo businesses.

We can help you find the best banks for small businesses in San Luis Obispo or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Burger King Corporation

Getting a Small Business Loan

Small Business Banks in San Luis Obispo, California

Getting an SBA Loan in California