Loan Census Banking News and Information
August 8, 2020  
 
 
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Small Business Banks for Humble Franchise Buyers

 

 
Loan Census SBA Loan Info

Wells Fargo Bank Provides SBA Loan to Buy Rockin' Baja Lobster Franchise

Need money to buy a Rockin' Baja Lobster franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Rockin' Baja Lobster franchise? If so, here's a 2005 SBA franchise loan that you should know about. Wells Fargo Bank was the lender and the entrepreneur was based in Humble, Texas.

SBA Loan Borrower

ROCKIN' BAJA LOBSTER
HUMBLE, TX 77338

SBA Loan Lender

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

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/22/2005

Loan Approval Gross Amount

$691,000

Loan Approval from the SBA

Of the total $691,000 loan amount, the SBA guaranteed $518,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Rockin' Baja Lobster franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 12 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $691,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Rockin Baja Lobster

Borrowing Money from Friends and Family

SBA 7A Banks in San Jose, California

California SBA Bank Lenders