California Entrepreneur Secures Financing to Buy Erik's Delicafe Franchise

Borrowing money to buy an Erik's Delicafe franchise? Heritage Bank Of Commerce has a history of making these loans and they are guaranteed by the SBA.

Erik's Delicafe franchise loans are available to Watsonville, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Heritage Bank Of Commerce, based in San Jose, California, issued an SBA franchise loan for an Erik's Delicafe franchise in 2002. We've got all the details on this California small business loan.

SBA Loan Borrower

ERIK'S DELICAFE-WATSONVILLE
WATSONVILLE, CA 95076

SBA Loan Lender

HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
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

722110 - Full-Service Restaurants

Loan Approval Date

1/11/2002

Loan Approval Gross Amount

$144,000

Loan Approval from the SBA

Of the total $144,000 loan amount, the SBA guaranteed $122,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Erik's Delicafe franchise. At the time of the loan, the company had 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Erik's DeliCafe Franchises

Alternative Financing

SBA Approved Banks in San Jose, California

California SBA Bank Lenders