Commerce Bank Provides SBA Loan to Buy Bruster's Franchise

Borrowing money to purchase a Bruster's franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Aston (aston Mills), Pennsylvania needed money to invest in a Bruster's franchise back in 2002. Commerce Bank issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

BRUSTER'S OLD-FASHIONED ICE CR
ASTON (ASTON MILLS), PA 19014

SBA Loan Lender

COMMERCE BANK
200 LANCASTER AVE
DEVON, PA 19333

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

7/3/2002

Loan Approval Gross Amount

$115,200

Loan Approval from the SBA

Of the total $115,200 loan amount, the SBA guaranteed $86,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Bruster's franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 18 new jobs and retain 20 existing jobs.

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Bruster's Real Ice Cream

Alternative Financing

Where to Get an SBA Loan in Devon, Pennsylvania

Getting a Business Loan in Pennsylvania