Texas Entrepreneur Secures Financing to Buy Smoothie King health Food Store Franchise

Need a loan to purchase a Smoothie King health Food Store franchise? Sterling Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Smoothie King health Food Store franchise shouldn't be overly burdensome. In 2002, Sterling Bank issued an SBA franchise loan to an entrepreneur in Humble, Texas. Because Smoothie King health Food Store was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

SMOOTHIE KING
HUMBLE, TX 77346

SBA Loan Lender

STERLING BANK
13300 ALMEDA RD
HOUSTON, TX 77045

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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

11/22/2002

Loan Approval Gross Amount

$129,600

Loan Approval from the SBA

Of the total $129,600 loan amount, the SBA guaranteed $110,160.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Smoothie King health Food Store franchise. At the time of the loan, the company had 6 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.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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