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November 21, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Taos, Business Loans > First Community Bank Taos Business Loans > Tropical Smoothie Cafe Loan | ||||
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Raising Money in Albuquerque, New Mexico With SBA Loans
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Borrow Money to Buy a Tropical Smoothie FranchiseNeed a loan to purchase a Tropical Smoothie franchise? First Community Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Tropical Smoothie franchise may simply require a phone call to a local SBA banker. In 2006, First Community Bank issued an SBA franchise loan to an entrepreneur in Albuquerque, New Mexico. Because Tropical Smoothie was registered with the SBA's registry of franchises, this New Mexico small business loan was issued on an expedited basis. SBA Loan Borrower TROPICAL SMOOTHIE CAFE SBA Loan Lender FIRST COMMUNITY BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 7/28/2006 Loan Approval Gross Amount $240,000 Loan Approval from the SBA Of the total $240,000 loan amount, the SBA guaranteed $180,000. 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 4 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 4 existing jobs. Getting an SBA Loan For Your Business If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Family and Friend Investors - Your First Financiers Browse All Business Loan Sources for New Mexico
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