Borrow Money to Buy a Ben & Jerry's Ice Cream Franchise

Borrowing money to buy a Ben & Jerry's Ice Cream franchise? Webster Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Providence, Rhode Island needed money to invest in a Ben & Jerry's Ice Cream franchise back in 2001. Webster Bank issued an SBA franchise loan. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

BEN & JERRY'S ICE CREAM AND FR
PROVIDENCE, RI 02906

SBA Loan Lender

WEBSTER BANK
1215 PARK AVE
CRANSTON, RI 02910

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to American small businesses.

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

6/22/2001

Loan Approval Gross Amount

$335,000

Loan Approval from the SBA

Of the total $335,000 loan amount, the SBA guaranteed $251,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Ben & Jerry's Ice Cream franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Webster Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Ben & Jerry's Franchising, Inc.

Choosing VC Firms

Where to Get an SBA Loan in Cranston, Rhode Island

Where to Get an SBA Loan Rhode Island