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May 2, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Rock Valley, Business Loans > Peoples Bank Rock Valley Business Loans > Taco Johns Of Sioux Center And Loan | ||||
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Where to Get a Bank Loan to Purchase a Franchise
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Peoples Bank Provides SBA Loan to Buy Taco John's FranchiseNeed a loan to purchase a Taco John's franchise? Peoples Bank has a history of making these loans and they are guaranteed by the SBA. Taco John's franchise loans are available to Orange City, Iowa entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Peoples Bank, based in Rock Valley, Iowa, issued an SBA franchise loan for a Taco John's franchise in 2004. We've got all the details on this Iowa small business loan. SBA Loan Borrower TACO JOHNS OF SIOUX CENTER AND SBA Loan Lender PEOPLES 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 722211 - Limited-Service Restaurants Loan Approval Date 2/13/2004 Loan Approval Gross Amount $110,000 Loan Approval from the SBA Of the total $110,000 loan amount, the SBA guaranteed $82,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Taco John's franchise. At the time of the loan, the company had 30 employees. The SBA loan documents indicated that the loan would help retain 30 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Peoples Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Good Banks for Small Business in Rock Valley, Iowa Browse All Business Loan Sources for Iowa
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