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April 18, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Midlothian, Business Loans > Citizens & Farmers Bank Midlothian Business Loans > Bruster's Real Ice Cream Loan | ||||
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Requirements for Financing a Franchise
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Mechanicsville, VA Entrepreneur Gets SBA Loan to Buy Bruster's FranchiseBorrowing money to buy a Bruster's franchise? Citizens & Farmers Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Mechanicsville, Virginia needed money to invest in a Bruster's franchise back in 2005. Citizens & Farmers Bank issued an SBA franchise loan. Here are the details on this Virginia small business loan. SBA Loan Borrower BRUSTER'S REAL ICE CREAM SBA Loan Lender CITIZENS & FARMERS BANK This 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 4/8/2005 Loan Approval Gross Amount $65,000 Loan Approval from the SBA Of the total $65,000 loan amount, the SBA guaranteed $55,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Bruster's franchise. At the time of the loan, the company had 15 employees. This SBA loan request did not indicate that the SBA funding recipient promised 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? SBA loans provide money to small business owners for working capital for other expenses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Citizens & Farmers Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Best Midlothian, Virginia Banks for Small Business Where to Get an SBA Loan Virginia
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