Texas Entrepreneur Secures Financing to Buy Smoothie Factory Franchise

Need money to purchase a Smoothie Factory franchise? Bank Of The West has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Smoothie Factory franchise? If so, here's a 2007 SBA franchise loan that you should know about. Bank Of The West was the lender and the entrepreneur was based in Mckinney, Texas.

SBA Loan Borrower

SMOOTHIE FACTORY
MCKINNEY, TX 75069

SBA Loan Lender

BANK OF THE WEST
108 W NORTHWEST HWY
GRAPEVINE, TX 76051

This lender provides SBA small 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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

12/7/2007

Loan Approval Gross Amount

$147,000

Loan Approval from the SBA

Of the total $147,000 loan amount, the SBA guaranteed $124,950.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Smoothie Factory franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs.

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

Don't apply for a loan directly with the SBA. You need to 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $147,000 loan. Remember, where there is a will, there is a way!

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:

Smoothie Factory

Financing Your Business

SBA Participating Banks in Grapevine, Texas

Where to Get an SBA Loan Texas