First Bank Provides SBA Loan to Buy Mrs. Field's Cookies Franchise

Need a loan to buy a Mrs. Field's Cookies franchise? First Bank has a history of making these loans and they are guaranteed by the SBA.

Mrs. Field's Cookies franchise loans are available to Altoona, Iowa entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Bank, based in West Des Moines, Iowa, issued an SBA franchise loan for a Mrs. Field's Cookies franchise in 2004. We've got all the details on this Iowa small business loan.

SBA Loan Borrower

MRS. FIELDS GREAT AMERICAN COO
ALTOONA, IA 50009

SBA Loan Lender

FIRST BANK
5625 MILLS CIVIC PKWY
WEST DES MOINES, IA 50266

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

10/27/2004

Loan Approval Gross Amount

$1,390,000

Loan Approval from the SBA

Of the total $1,390,000 loan amount, the SBA guaranteed $888,210.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mrs. Field's Cookies franchise. At the time of the loan, the company had 50 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Mrs. Fields Original Cookies, Inc.

How to Raise Money

SBA 7A Banks for West Des Moines, Iowa Loans

Iowa SBA 7A Banks