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April 23, 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 > El Pollo Loco Loan | ||||
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El Centro, California Bank Loan
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Borrow Money to Buy an El Pollo Loco FranchiseNeed money to invest in an El Pollo Loco franchise? Borrego Springs Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy an El Pollo Loco franchise? If so, here's a 2005 SBA franchise loan that you should know about. Borrego Springs Bank was the lender and the entrepreneur was based in El Centro, California. SBA Loan Borrower EL POLLO LOCO SBA Loan Lender BORREGO SPRINGS 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 722211 - Limited-Service Restaurants Loan Approval Date 2/23/2005 Loan Approval Gross Amount $96,900 Loan Approval from the SBA Of the total $96,900 loan amount, the SBA guaranteed $82,365. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy an El Pollo Loco franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 54 new jobs and retain 1 existing job. 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: The Friends and Family Network SBA 7A Banks in Borrego Springs, California
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