Borrego Springs Bank Provides SBA Loan to Buy Fast-Fix Jewelry Repairs Franchise

Need money to buy a Fast-Fix Jewelry Repairs franchise? Borrego Springs Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near West Covina, California and are interested in buying a Fast-Fix Jewelry Repairs franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Borrego Springs Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

FAST FIX JEWELRY REPAIRS
WEST COVINA, CA 91790

SBA Loan Lender

BORREGO SPRINGS BANK
587 PALM CANYON DR, STE 101
BORREGO SPRINGS, CA 92004

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

448310 - Jewelry Stores

Loan Approval Date

3/26/2001

Loan Approval Gross Amount

$203,000

Loan Approval from the SBA

Of the total $203,000 loan amount, the SBA guaranteed $152,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Fast-Fix Jewelry Repairs franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

Related Links:

Fast-Fix Jewelry Repairs

Obtaining Funding - How to Borrow Money

SBA Banks in Borrego Springs, California

California SBA Bank Lenders