Loan to Buy Rita's Real Italian Water Ice Franchise Issued By Ameriserv Financial Bank

Borrowing money to purchase a Rita's Real Italian Water Ice franchise? Ameriserv Financial Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Perkasie, Pennsylvania needed money to invest in a Rita's Real Italian Water Ice franchise back in 2002. Ameriserv Financial Bank issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

RITA'S ITALIAN ICE
PERKASIE, PA 18944

SBA Loan Lender

AMERISERV FINANCIAL BANK
112 S CHESTNUT ST
DERRY, PA 15627

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

5/24/2002

Loan Approval Gross Amount

$109,000

Loan Approval from the SBA

Of the total $109,000 loan amount, the SBA guaranteed $92,650.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Rita's Real Italian Water Ice franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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