Redondo Beach, CA Entrepreneur Gets SBA Loan to Buy Denny's Restaurant Franchise

Need a loan to buy a Denny's Restaurant franchise? Far East National Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Denny's Restaurant franchise? If so, here's a 2003 SBA franchise loan that you should know about. Far East National Bank was the lender and the entrepreneur was based in Redondo Beach, California.

SBA Loan Borrower

DENNY'S
REDONDO BEACH, CA 90278

SBA Loan Lender

FAR EAST NATIONAL BANK
977 N BROADWAY
LOS ANGELES, CA 90012

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

722110 - Full-Service Restaurants

Loan Approval Date

7/18/2003

Loan Approval Gross Amount

$891,200

Loan Approval from the SBA

Of the total $891,200 loan amount, the SBA guaranteed $668,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Denny's Restaurant franchise. At the time of the loan, the company had 35 employees. This SBA loan request indicated that the loan would help generate 35 new jobs and retain 35 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $891,200 loan. Remember, you control your own destiny.

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:

Denny's Inc.

The Art of Bootstrapping

SBA Banks in Los Angeles, California

Getting an SBA Loan in California