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August 8, 2020  
 
 
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Austin, Texas Bank Loan

 

 
Loan Census SBA Loan Info

Texas Entrepreneur Secures Financing to Buy Maggiemoo's ice Cream Franchise

Need a loan to invest in a Maggiemoo's ice Cream franchise? First National Bank has a history of making these loans and they are guaranteed by the SBA.

Maggiemoo's ice Cream franchise loans are available to Austin, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First National Bank, based in Edinburg, Texas, issued an SBA franchise loan for a Maggiemoo's ice Cream franchise in 2000. We've got all the details on this Texas small business loan.

SBA Loan Borrower

MAGGIE MOO'S ICE CREAM & TREAT
AUSTIN, TX 78734

SBA Loan Lender

FIRST NATIONAL BANK
1920 S CLOSNER
EDINBURG, TX 78539

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.

SIC Code

5812 - Eating Places

Loan Approval Date

2/4/2000

Loan Approval Gross Amount

$163,400

Loan Approval from the SBA

Of the total $163,400 loan amount, the SBA guaranteed $122,550.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Maggiemoo's ice Cream franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 6 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 First National 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:

MaggieMoo's International, LLC

Dealing With Venture Capitalists

Small Business Banks in Edinburg, Texas

Getting a Business Loan in Texas