Loan to Buy Bruster's Franchise Issued By Wachovia Bank

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

An entrepreneur in Lakeland, Florida needed money to invest in a Bruster's franchise back in 2000. Wachovia Bank issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

BRUSTER'S OLD FASHIONED ICE CR
LAKELAND, FL 33813

SBA Loan Lender

WACHOVIA BANK
360 INTERSTATE NORTH PKWY, ST
ATLANTA, GA 30339

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

9/20/2000

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

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 10 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

If you are working on finding money to start a business in Lakeland FL, you ought to talk with a local Lakeland SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lakeland businesses.

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 Wachovia Bank 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.

Related Links:

Bruster's Real Ice Cream

The Art of Bootstrapping

SBA 7A Lenders in Atlanta, Georgia

Getting an SBA Loan in Georgia