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May 2, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Austin, Business Loans > American Bank Of Commerce Austin Business Loans > Rocky Mountain Chocolate Facto Loan | ||||
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I Need an SBA Loan to Buy a Franchise in Cedar Park, Texas
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Cedar Park, TX Entrepreneur Gets SBA Loan to Buy Rocky Mountain Chocolate Factory FranchiseNeed money to buy a Rocky Mountain Chocolate Factory franchise? American Bank Of Commerce has a history of making these loans and they are guaranteed by the SBA. Rocky Mountain Chocolate Factory franchise loans are available to Cedar Park, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, American Bank Of Commerce, based in Austin, Texas, issued an SBA franchise loan for a Rocky Mountain Chocolate Factory franchise in 2003. We've got all the details on this Texas small business loan. SBA Loan Borrower ROCKY MOUNTAIN CHOCOLATE FACTO SBA Loan Lender AMERICAN BANK OF COMMERCE This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445292 - Confectionery and Nut Stores Loan Approval Date 4/15/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Rocky Mountain Chocolate Factory franchise. At the time of the loan, the company had 4 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. Getting an SBA Loan For Your Business Remember, you 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, anyone can do it... so why not you? 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: Rocky Mountain Chocolate Factory Who Lends Money to Small Businesses in Austin, Texas
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