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May 5, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > White's Ice Cream Company, Inc Loan | ||||
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Advice for Financing a Franchise
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Borrow Money to Buy a Haagen-Dazs Ice Cream FranchiseBorrowing money to buy a Haagen-Dazs Ice Cream franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Columbia, Maryland needed money to invest in a Haagen-Dazs Ice Cream franchise back in 2004. Bank Of America issued an SBA franchise loan. Here are the details on this Maryland small business loan. SBA Loan Borrower WHITE'S ICE CREAM COMPANY, INC SBA Loan Lender BANK OF AMERICA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 8/16/2004 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Haagen-Dazs Ice Cream franchise. At the time of the loan, the company had 16 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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: Accountant's Role in Securing Financing Who Lends Money to Small Businesses in Charlotte, North Carolina
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