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April 25, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Buena Park, Business Loans > Uniti Bank Buena Park Business Loans > Auntie Anne's Pretzels Loan | ||||
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How to Get SBA Loans in Cerritos (dairy Valley), California
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California Entrepreneur Secures Financing to Buy Auntie Ann's soft Pretzels FranchiseNeed money to buy an Auntie Ann's soft Pretzels franchise? Uniti Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Cerritos (dairy Valley), California needed money to invest in an Auntie Ann's soft Pretzels franchise back in 2004. Uniti Bank issued an SBA franchise loan. Here are the details on this California small business loan. SBA Loan Borrower AUNTIE ANNE'S PRETZELS SBA Loan Lender UNITI 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 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 9/9/2004 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy an Auntie Ann's soft Pretzels franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. 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: Who Lends Money to Small Businesses in Buena Park, California
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