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May 2, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Tropical Smoothie Cafe Loan | ||||
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I Need a Loan to Buy a Franchise in Port Saint Lucie, Florida
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Port Saint Lucie, FL Entrepreneur Gets SBA Loan to Buy Tropical Smoothie FranchiseNeed a loan to purchase a Tropical Smoothie franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Tropical Smoothie franchise shouldn't be too tough. In 2002, Bank Of America issued an SBA franchise loan to an entrepreneur in Port Saint Lucie, Florida. Because Tropical Smoothie was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis. SBA Loan Borrower TROPICAL SMOOTHIE CAFE SBA Loan Lender BANK OF AMERICA This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 5/31/2002 Loan Approval Gross Amount $96,000 Loan Approval from the SBA Of the total $96,000 loan amount, the SBA guaranteed $48,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Tropical Smoothie franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 10 new jobs and retain 1 existing job. 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of America made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Realistic Debt Financing Options Small Bank Loans in Charlotte, North Carolina
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