New Jersey Entrepreneur Secures Financing to Buy Rocky Mountain Chocolate Factory Franchise

Borrowing money to buy a Rocky Mountain Chocolate Factory franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Atlantic City, New Jersey needed money to invest in a Rocky Mountain Chocolate Factory franchise back in 2006. Comerica Bank issued an SBA franchise loan. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

EAST COAST CHOCOLATE COMPANY D
ATLANTIC CITY, NJ 08401

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

5/9/2006

Loan Approval Gross Amount

$357,000

Loan Approval from the SBA

Of the total $357,000 loan amount, the SBA guaranteed $267,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Rocky Mountain Chocolate Factory franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 5 new jobs and retain 6 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are raising money in Atlantic City NJ, you ought to talk with a local Atlantic City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Atlantic City businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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