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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Center Bank Los Angeles Business Loans > Kentucky Fried Chicken Loan | ||||
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Best Banks for Franchise Loans in California
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Center Bank Provides SBA Loan to Buy Kentucky Fried Chicken FranchiseBorrowing money to invest in a Kentucky Fried Chicken franchise? Center Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Kentucky Fried Chicken franchise? If so, here's a 2001 SBA franchise loan that you should know about. Center Bank was the lender and the entrepreneur was based in Santa Ana, California. SBA Loan Borrower KENTUCKY FRIED CHICKEN SBA Loan Lender CENTER BANK 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 9/27/2001 Loan Approval Gross Amount $508,500 Loan Approval from the SBA Of the total $508,500 loan amount, the SBA guaranteed $381,375. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Kentucky Fried Chicken franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Center Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Raising VC Money for Social Networking Companies SBA Approved Banks in Los Angeles, California
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