Cit Small Business Lending Corp Provides SBA Loan to Buy Ben & Jerry's Ice Cream Franchise

Need money to invest in a Ben & Jerry's Ice Cream franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Ben & Jerry's Ice Cream franchise requires some effort but others before you have been successful. In 2004, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Holland, Michigan. Because Ben & Jerry's Ice Cream was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

BEN & JERRY'S
HOLLAND, MI 49423

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

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

445299 - Specialty Food Stores

Loan Approval Date

10/6/2004

Loan Approval Gross Amount

$280,500

Loan Approval from the SBA

Of the total $280,500 loan amount, the SBA guaranteed $210,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Ben & Jerry's Ice Cream franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help create 3 new jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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