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May 5, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Goleta, Business Loans > Community W. Bank Goleta Business Loans > Carvel Ice Cream #3290 Loan | ||||
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Where to Get a Bank Loan to Purchase a Franchise
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Lady Lake, FL Entrepreneur Gets SBA Loan to Buy Carvel Ice Cream FranchiseNeed a loan to purchase a Carvel Ice Cream franchise? Community W. Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Lady Lake, Florida needed money to invest in a Carvel Ice Cream franchise back in 2005. Community W. Bank issued an SBA franchise loan. Here are the details on this Florida small business loan. SBA Loan Borrower CARVEL ICE CREAM #3290 SBA Loan Lender COMMUNITY W. BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/25/2005 Loan Approval Gross Amount $272,500 Loan Approval from the SBA Of the total $272,500 loan amount, the SBA guaranteed $204,375. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Carvel Ice Cream franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 11 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Good Banks for Small Business in Goleta, California
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