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May 3, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Virginia Beach, Business Loans > Resource Bank Virginia Beach Business Loans > Tropical Smoothie Cafe Loan | ||||
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Requirements for Getting a Franchise Loan
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Loan to Buy Tropical Smoothie Franchise Issued By Resource BankNeed a loan to invest in a Tropical Smoothie franchise? Resource Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Tropical Smoothie franchise is doable. In 2006, Resource Bank issued an SBA franchise loan to an entrepreneur in Virginia Beach, Virginia. Because Tropical Smoothie was registered with the SBA's registry of franchises, this Virginia small business loan was issued on an expedited basis. SBA Loan Borrower TROPICAL SMOOTHIE CAFE SBA Loan Lender RESOURCE 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 3/7/2006 Loan Approval Gross Amount $220,000 Loan Approval from the SBA Of the total $220,000 loan amount, the SBA guaranteed $165,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Tropical Smoothie franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 13 new jobs and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My 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. Related Links: Best Virginia Beach, Virginia Banks for Small Business
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