Loan Census Banking News and Information
July 22, 2024  
 
 
  Business Loan Information  
 

Raising Money in Cypress, California With SBA Loans

 

 
Loan Census SBA Loan Info

Pacific City Bank Provides SBA Loan to Buy Econo Auto Painting Franchise

Need a loan to buy an Econo Auto Painting franchise? Pacific City Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Econo Auto Painting franchise shouldn't be too tough. In 2006, Pacific City Bank issued an SBA franchise loan to an entrepreneur in Cypress, California. Because Econo Auto Painting was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

ECONO LUBE "N" TUBE #213
CYPRESS, CA 90630

SBA Loan Lender

PACIFIC CITY BANK
3701 WILSHIRE BLVD, STE 402
LOS ANGELES, CA 90010

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

811191 - Automotive Oil Change and Lubrication Shops

Loan Approval Date

9/7/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Econo Auto Painting franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Pacific City Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Investor Turnoffs

Small Business Banks in Los Angeles, California

California SBA 7A Lenders