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April 19, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Ritter's Frozen Custard Loan | ||||
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Business Loans for West Chester Businesses
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Wells Fargo Bank Provides SBA Loan to Buy Ritter's Frozen Custard FranchiseNeed money to purchase a Ritter's Frozen Custard franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in West Chester, Ohio needed money to invest in a Ritter's Frozen Custard franchise back in 2003. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this Ohio small business loan. SBA Loan Borrower RITTER'S FROZEN CUSTARD SBA Loan Lender WELLS FARGO BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 2/19/2003 Loan Approval Gross Amount $215,600 Loan Approval from the SBA Of the total $215,600 loan amount, the SBA guaranteed $161,700. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Ritter's Frozen Custard franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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: Small Business Banks in Minneapolis, Minnesota
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