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April 19, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Borrego Springs, Business Loans > Borrego Springs Bank Borrego Springs Business Loans > Ad Central LLC Loan | ||||
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Advice for Borrowing Money to Buy a Franchise
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Bakersfield, CA Entrepreneur Gets SBA Loan to Buy Liberty Tax Service FranchiseNeed a loan to invest in a Liberty Tax Service franchise? Borrego Springs Bank has a history of making these loans and they are guaranteed by the SBA. Liberty Tax Service franchise loans are available to Bakersfield, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Borrego Springs Bank, based in Borrego Springs, California, issued an SBA franchise loan for a Liberty Tax Service franchise in 2005. We've got all the details on this California small business loan. SBA Loan Borrower AD CENTRAL LLC SBA Loan Lender BORREGO SPRINGS BANK 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 541990 - Professional, Scientific, and Technical Services Loan Approval Date 6/10/2005 Loan Approval Gross Amount $335,000 Loan Approval from the SBA Of the total $335,000 loan amount, the SBA guaranteed $251,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Liberty Tax Service franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business If you need business start up money in Bakersfield CA, you ought to talk with a local Bakersfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bakersfield businesses. 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: Best Banks in Borrego Springs, California
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