Simi (simi Valley), CA Entrepreneur Gets SBA Loan to Buy Big O Tires dealers Franchise

Need a loan to purchase a Big O Tires dealers franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Simi (simi Valley), California and are interested in buying a Big O Tires dealers franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Wells Fargo Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

BIG O TIRES
SIMI (SIMI VALLEY), CA 93065

SBA Loan Lender

WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113

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

811111 - General Automotive Repair

Loan Approval Date

11/5/2001

Loan Approval Gross Amount

$281,600

Loan Approval from the SBA

Of the total $281,600 loan amount, the SBA guaranteed $211,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Big O Tires dealers franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 9 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

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

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Wells Fargo Bank 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:

Big O Tires, Inc.

Obtaining Funding - Getting Venture Capital

SBA 7A Banks in San Jose, California

SBA Lenders in California