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April 26, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Solana Beach, Business Loans > 1st Pacific Bank Of California Solana Beach Business Loans > Submarina 71 Loan | ||||
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Where to Get a Small Business Loan to Purchase a Franchise
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San Diego, CA Entrepreneur Gets SBA Loan to Buy Submarina Sandwiches FranchiseBorrowing money to purchase a Submarina Sandwiches franchise? 1st Pacific Bank Of California has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in San Diego, California needed money to invest in a Submarina Sandwiches franchise back in 2006. 1st Pacific Bank Of California issued an SBA franchise loan. Here are the details on this California small business loan. SBA Loan Borrower SUBMARINA 71 SBA Loan Lender 1ST PACIFIC BANK OF CALIFORNIA 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 12/4/2006 Loan Approval Gross Amount $188,800 Loan Approval from the SBA Of the total $188,800 loan amount, the SBA guaranteed $141,600. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Submarina Sandwiches franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help create 11 new jobs. Great, But How Can I Get an SBA Loan for My Business? 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like 1st Pacific Bank Of California that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 Banks for Small Business in Solana Beach, California
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