Borrow Money to Buy a Wheel Fun Rentals Franchise

Borrowing money to purchase a Wheel Fun Rentals franchise? Montecito Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

If you live near Santa Barbara, California and are interested in buying a Wheel Fun Rentals franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Montecito Bank & Trust. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SANTA BARBARA OLD TOWN TROLLEY
SANTA BARBARA, CA 93101

SBA Loan Lender

MONTECITO BANK & TRUST
1106 COAST VILLAGE RD
SANTA BARBARA, CA 93108

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532299 - Consumer Goods Rental

Loan Approval Date

4/19/2002

Loan Approval Gross Amount

$223,000

Loan Approval from the SBA

Of the total $223,000 loan amount, the SBA guaranteed $167,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Wheel Fun Rentals franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Montecito Bank & Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Wheel Fun Rentals

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SBA 7A Banks in Santa Barbara, California

SBA Lenders in California