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May 3, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Temecula, Business Loans > Temecula Valley Bank Temecula Business Loans > Submarina Loan | ||||
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Banks for Franchise Loans in California
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Murrieta, CA Entrepreneur Gets SBA Loan to Buy Submarina Sandwiches FranchiseBorrowing money to purchase a Submarina Sandwiches franchise? Temecula Valley Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Murrieta, California and are interested in buying a Submarina Sandwiches franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Temecula Valley Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower SUBMARINA SBA Loan Lender TEMECULA VALLEY BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/25/2002 Loan Approval Gross Amount $139,200 Loan Approval from the SBA Of the total $139,200 loan amount, the SBA guaranteed $118,320. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Submarina Sandwiches franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 Temecula, California Banks for Small Business
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