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April 25, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Alhambra, Business Loans > Cathay Bank Alhambra Business Loans > Popeyes Chicken & Biscuits Loan | ||||
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California Small Business Funding for Franchises
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California Entrepreneur Secures Financing to Buy Popeye's Famous Fried Chicken FranchiseNeed a loan to invest in a Popeye's Famous Fried Chicken franchise? Cathay Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Santa Clara, California needed money to invest in a Popeye's Famous Fried Chicken franchise back in 2003. Cathay Bank issued an SBA franchise loan. Here are the details on this California small business loan. SBA Loan Borrower POPEYES CHICKEN & BISCUITS SBA Loan Lender CATHAY BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445299 - Specialty Food Stores Loan Approval Date 9/24/2003 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Popeye's Famous Fried Chicken franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 3 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: SBA 7A Banks in Alhambra, California
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