Thousand Oaks, CA Entrepreneur Gets SBA Loan to Buy Al & Ed's Autosound #8 Franchise

Need a loan to purchase an Al & Ed's Autosound #8 franchise? First Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Al & Ed's Autosound #8 franchise may simply require a phone call to a local SBA banker. In 2003, First Bank issued an SBA franchise loan to an entrepreneur in Thousand Oaks, California. Because Al & Ed's Autosound #8 was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

AL & ED'S AUTOSOUND #14
THOUSAND OAKS, CA 91360

SBA Loan Lender

FIRST BANK
318 4TH AVE
CHULA VISTA, CA 91910

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

443112 - Radio, Television, and Electronics Stores

Loan Approval Date

4/24/2003

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Al & Ed's Autosound #8 franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

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

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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