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March 28, 2024  
 
 
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San Luis Obispo, California Bank Loan

 

 
Loan Census SBA Loan Info

San Luis Obispo, CA Entrepreneur Gets SBA Loan to Buy UPS Store Franchise

Need money to buy an UPS Store franchise? Heritage Oaks Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an UPS Store franchise requires some effort but others before you have been successful. In 2006, Heritage Oaks Bank issued an SBA franchise loan to an entrepreneur in San Luis Obispo, California. Because UPS Store was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

THE UPS STORE
SAN LUIS OBISPO, CA 93401

SBA Loan Lender

HERITAGE OAKS BANK
545 12TH ST
PASO ROBLES, CA 93446

This lender processed this loan for a small business under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

491110 - Postal Service

Loan Approval Date

5/26/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an UPS Store franchise. At the time of the loan, the company had 7 employees. This SBA loan request indicated that the loan would help retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Obtaining Funding - Friends and Family

SBA Participating Banks in Paso Robles, California

SBA Participating Banks in California