Westport, CT Entrepreneur Gets SBA Loan to Buy Baskin-Robbins 31 Ice Cream Franchise

Need a loan to buy a Baskin-Robbins 31 Ice Cream franchise? Fairfield County Bank Corp has a history of making these loans and they are guaranteed by the SBA.

If you live near Westport, Connecticut and are interested in buying a Baskin-Robbins 31 Ice Cream franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Fairfield County Bank Corp. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

BASKIN ROBBINS
WESTPORT, CT 06880

SBA Loan Lender

FAIRFIELD COUNTY BANK CORP
180 POST RD EAST
WESTPORT, CT 06880

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5451 - Dairy Products Stores

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

7/5/2002

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Baskin-Robbins 31 Ice Cream franchise. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $65,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Business Line of Credit

Small Bank Loans in Westport, Connecticut

SBA Connecticut Banks