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April 30, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Rolling Meadows, Business Loans > Fifth Third Bank Rolling Meadows Business Loans > Baskin Robbins Loan | ||||
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Where to Get an SBA 7A Loan to Purchase a Franchise
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Illinois Entrepreneur Secures Financing to Buy Baskin-Robbins 31 Ice Cream FranchiseNeed money to invest in a Baskin-Robbins 31 Ice Cream franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Baskin-Robbins 31 Ice Cream franchise shouldn't be too tough. In 2004, Fifth Third Bank issued an SBA franchise loan to an entrepreneur in Waukegan, Illinois. Because Baskin-Robbins 31 Ice Cream was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis. SBA Loan Borrower BASKIN ROBBINS SBA Loan Lender FIFTH THIRD BANK This SBA 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 445299 - Specialty Food Stores Loan Approval Date 11/18/2004 Loan Approval Gross Amount $177,600 Loan Approval from the SBA Of the total $177,600 loan amount, the SBA guaranteed $133,200. 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 6 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Banking Deregulation's Effects on Entrepreneurship SBA Banks in Rolling Meadows, Illinois
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