California Entrepreneur Secures Financing to Buy Checkers Drive-In Restaurant Franchise

Need money to invest in a Checkers Drive-In Restaurant franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Santa Monica, California needed money to invest in a Checkers Drive-In Restaurant franchise back in 2007. Banco Popular North America issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

RALLY'S HAMBURGERS
SANTA MONICA, CA 90034

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/25/2007

Loan Approval Gross Amount

$1,495,500

Loan Approval from the SBA

Of the total $1,495,500 loan amount, the SBA guaranteed $1,121,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Checkers Drive-In Restaurant franchise. At the time of the loan, the company had 40 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 35 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 emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Banco Popular North America 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:

Checkers Drive-In Restaurants, Inc.

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