Pennsylvania Entrepreneur Secures Financing to Buy Rita's Real Italian Water Ice Franchise

Need a loan to purchase a Rita's Real Italian Water Ice franchise? First Star Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Rita's Real Italian Water Ice franchise requires some effort but others before you have been successful. In 2003, First Star Savings Bank issued an SBA franchise loan to an entrepreneur in Schnecksville, Pennsylvania. Because Rita's Real Italian Water Ice was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis.

SBA Loan Borrower

RITA'S WATER ICE
SCHNECKSVILLE, PA 18078

SBA Loan Lender

FIRST STAR SAVINGS BANK
418 W BROAD ST
BETHLEHEM, PA 18018

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

11/4/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Rita's Real Italian Water Ice franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Star Savings 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.

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