Iowa Entrepreneur Secures Financing to Buy Taco John's Franchise

Borrowing money to invest in a Taco John's franchise? First Central State Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Eldridge, Iowa and are interested in buying a Taco John's franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by First Central State Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

EASTERN IOWA T.J., L.C.
ELDRIDGE, IA 52748

SBA Loan Lender

FIRST CENTRAL STATE BANK
100 S 4TH AVE, STE 100
ELDRIDGE, IA 52748

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/31/2006

Loan Approval Gross Amount

$581,400

Loan Approval from the SBA

Of the total $581,400 loan amount, the SBA guaranteed $436,050.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Taco John's franchise. At the time of the loan, the company had 25 employees. The loan application did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Taco John's International

Startup Funding Tip

SBA Approved Banks in Eldridge, Iowa

SBA Lenders in Iowa