Santa Fe Springs, CA Entrepreneur Gets SBA Loan to Buy Farmer Boys World's Greatest Restaur Franchise

Borrowing money to purchase a Farmer Boys World's Greatest Restaur franchise? Gateway Business Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Farmer Boys World's Greatest Restaur franchise may simply require a phone call to a local SBA banker. In 2005, Gateway Business Bank issued an SBA franchise loan to an entrepreneur in Santa Fe Springs, California. Because Farmer Boys World's Greatest Restaur was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

IMPERIAL FARMER BOYS
SANTA FE SPRINGS, CA 90670

SBA Loan Lender

GATEWAY BUSINESS BANK
18000 STUDEBAKER RD, STE 550
CERRITOS, CA 90703

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

722110 - Full-Service Restaurants

Loan Approval Date

5/18/2005

Loan Approval Gross Amount

$900,000

Loan Approval from the SBA

Of the total $900,000 loan amount, the SBA guaranteed $675,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Farmer Boys World's Greatest Restaur franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 18 new jobs and retain 3 existing jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $900,000 loan. Remember, if it to be, it is up to me!

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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