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April 24, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Nara Bank Los Angeles Business Loans > Precision Tune Auto Care Loan | ||||
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California Small Business Funding for Franchises
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California Entrepreneur Secures Financing to Buy Precision Tune FranchiseNeed money to purchase a Precision Tune franchise? Nara Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Precision Tune franchise shouldn't be overly burdensome. In 2001, Nara Bank issued an SBA franchise loan to an entrepreneur in San Jose, California. Because Precision Tune was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis. SBA Loan Borrower PRECISION TUNE AUTO CARE SBA Loan Lender NARA BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811191 - Automotive Oil Change and Lubrication Shops Loan Approval Date 9/19/2001 Loan Approval Gross Amount $110,000 Loan Approval from the SBA Of the total $110,000 loan amount, the SBA guaranteed $93,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Precision Tune franchise. At the time of the loan, the company had 11 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Nara Bank and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding - How to Decide How Much to Raise Find an SBA Lender in Los Angeles, California
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