Olympyia, WA Entrepreneur Gets SBA Loan to Buy Maggiemoo's ice Cream Franchise

Need money to buy a Maggiemoo's ice Cream franchise? Community So. Bank D.B.A Commun has a history of making these loans and they are guaranteed by the SBA.

If you live near Olympyia, Washington and are interested in buying a Maggiemoo's ice Cream franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by Community So. Bank D.B.A Commun. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MAGGIEMOO'S ICE CREAM & TREATE
OLYMPYIA, WA 98502

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
625 S GAY ST, STE 450
KNOXVILLE, TN 37902

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

6/14/2007

Loan Approval Gross Amount

$359,000

Loan Approval from the SBA

Of the total $359,000 loan amount, the SBA guaranteed $269,250.

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 loan application indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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.

Related Links:

MaggieMoo's International, LLC

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SBA 7A Banks in Knoxville, Tennessee

SBA Lenders in Tennessee