Loan to Buy Baskin-Robbins 31 Ice Cream Franchise Issued By Comerica Bank

Need money to purchase a Baskin-Robbins 31 Ice Cream franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Conifer, Colorado needed money to invest in a Baskin-Robbins 31 Ice Cream franchise back in 2006. Comerica Bank issued an SBA franchise loan. Here are the details on this Colorado small business loan.

SBA Loan Borrower

FOUR E ICE CREAM, INC. DBA BAS
CONIFER, CO 80433

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/29/2006

Loan Approval Gross Amount

$277,000

Loan Approval from the SBA

Of the total $277,000 loan amount, the SBA guaranteed $207,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Baskin-Robbins 31 Ice Cream franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 19 new jobs and retain 20 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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