Virginia Entrepreneur Secures Financing to Buy Bruster's Franchise

Borrowing money to invest in a Bruster's franchise? Citizens & Farmers Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Bruster's franchise may simply require a phone call to a local SBA banker. In 2004, Citizens & Farmers Bank issued an SBA franchise loan to an entrepreneur in Glen Allen, Virginia. Because Bruster's was registered with the SBA's registry of franchises, this Virginia small business loan was issued on an expedited basis.

SBA Loan Borrower

BRUSTER'S REAL ICE CREAM
GLEN ALLEN, VA 23059

SBA Loan Lender

CITIZENS & FARMERS BANK
1400 ALVERSER DR, C & F CENTE
MIDLOTHIAN, VA 23112

This commercial 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.

SIC Code

5461 - Retail Bakeries

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

2/4/2004

Loan Approval Gross Amount

$514,000

Loan Approval from the SBA

Of the total $514,000 loan amount, the SBA guaranteed $385,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Bruster's franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Bruster's Real Ice Cream

Financing Your Business

Small Bank Loans in Midlothian, Virginia

Virginia SBA 7A Lenders