Sovereign Bank Provides SBA Loan to Buy Maggiemoo's ice Cream Franchise

Need a loan to purchase a Maggiemoo's ice Cream franchise? Sovereign Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Maggiemoo's ice Cream franchise? If so, here's a 2003 SBA franchise loan that you should know about. Sovereign Bank was the lender and the entrepreneur was based in West Chester, Pennsylvania.

SBA Loan Borrower

MAGGIEMOOS ICE CREAM AND TREAT
WEST CHESTER, PA 19382

SBA Loan Lender

SOVEREIGN BANK
1130 BERKSHIRE BLVD
WYOMISSING, PA 19610

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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

7/9/2003

Loan Approval Gross Amount

$230,000

Loan Approval from the SBA

Of the total $230,000 loan amount, the SBA guaranteed $172,500.

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 only one employee. The SBA loan documents indicated that the borrowed money would help generate 16 new 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.

We can help you find the best banks for small businesses in West Chester or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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

Business Cash Advances

SBA 7A Banks in Wyomissing, Pennsylvania

SBA Participating Banks in Pennsylvania