Pennsylvania Entrepreneur Secures Financing to Buy Bruster's Franchise

Need a loan to buy a Bruster's franchise? Centric Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Bruster's franchise shouldn't be too tough. In 2001, Centric Bank issued an SBA franchise loan to an entrepreneur in Lewisberry, Pennsylvania. Because Bruster's was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis.

SBA Loan Borrower

BRUSTER'S OLD FASHND ICE CREAM
LEWISBERRY, PA 17339

SBA Loan Lender

CENTRIC BANK
3601 VARTAN WAY
HARRISBURG, PA 17110

This SBA bank 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

5812 - Eating Places

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

10/11/2001

Loan Approval Gross Amount

$586,500

Loan Approval from the SBA

Of the total $586,500 loan amount, the SBA guaranteed $439,875.

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 2 employees. This SBA loan request did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

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.

Related Links:

Bruster's Real Ice Cream

Obtaining Funding From a Venture Capitalist

Best Harrisburg, Pennsylvania Banks for Small Business

Pennsylvania SBA 7A Banks