Bangor, PA Entrepreneur Gets SBA Loan to Buy Rita's Real Italian Water Ice Franchise

Borrowing money to invest in a Rita's Real Italian Water Ice franchise? First Star Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Rita's Real Italian Water Ice franchise? If so, here's a 2006 SBA franchise loan that you should know about. First Star Savings Bank was the lender and the entrepreneur was based in Bangor, Pennsylvania.

SBA Loan Borrower

J C ICE INC
BANGOR, PA 18013

SBA Loan Lender

FIRST STAR SAVINGS BANK
418 W BROAD ST
BETHLEHEM, PA 18018

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

311520 - Ice Cream and Frozen Dessert Manufacturing

Loan Approval Date

7/21/2006

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Rita's Real Italian Water Ice franchise. At the time of the loan, the company had 16 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 13 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 $140,000 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:

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