The Fidelity Bank Provides SBA Loan to Buy Smoothie King health Food Store Franchise

Need money to buy a Smoothie King health Food Store franchise? The Fidelity Bank has a history of making these loans and they are guaranteed by the SBA.

Smoothie King health Food Store franchise loans are available to Charlotte, North Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, The Fidelity Bank, based in Mebane, North Carolina, issued an SBA franchise loan for a Smoothie King health Food Store franchise in 2002. We've got all the details on this North Carolina small business loan.

SBA Loan Borrower

SMOOTHIE KING
CHARLOTTE, NC 28277

SBA Loan Lender

THE FIDELITY BANK
1296 S FIFTH ST
MEBANE, NC 27302

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5499 - Food Stores

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

2/14/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Smoothie King health Food Store franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find other ways to get money to start a business, 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.

Related Links:

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Good Banks for Small Business in Mebane, North Carolina

Getting a Business Loan in North Carolina