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April 28, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Nashville, Business Loans > Pinnacle National Bank Nashville Business Loans > Baskin Robbins Loan | ||||
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Banks for Franchise Loans in Tennessee
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Tennessee Entrepreneur Secures Financing to Buy Baskin-Robbins 31 Ice Cream FranchiseBorrowing money to invest in a Baskin-Robbins 31 Ice Cream franchise? Pinnacle National Bank has a history of making these loans and they are guaranteed by the SBA. Baskin-Robbins 31 Ice Cream franchise loans are available to Nashville, Tennessee entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Pinnacle National Bank, based in Nashville, Tennessee, issued an SBA franchise loan for a Baskin-Robbins 31 Ice Cream franchise in 2005. We've got all the details on this Tennessee small business loan. SBA Loan Borrower BASKIN ROBBINS SBA Loan Lender PINNACLE NATIONAL BANK 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 722211 - Limited-Service Restaurants Loan Approval Date 4/7/2005 Loan Approval Gross Amount $124,000 Loan Approval from the SBA Of the total $124,000 loan amount, the SBA guaranteed $105,400. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Baskin-Robbins 31 Ice Cream franchise. At the time of the loan, the company had 56 employees. The loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 Pinnacle 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: Determining Proper Capital Structure for a Business SBA Participating Banks in Nashville, Tennessee
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