Loan to Buy Baskin-Robbins 31 Ice Cream Franchise Issued By Wells Fargo Bank

Need money to purchase a Baskin-Robbins 31 Ice Cream franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Bernalillo, New Mexico needed money to invest in a Baskin-Robbins 31 Ice Cream franchise back in 2004. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

SWEET STEEL LLC
BERNALILLO, NM 87004

SBA Loan Lender

WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/12/2004

Loan Approval Gross Amount

$319,800

Loan Approval from the SBA

Of the total $319,800 loan amount, the SBA guaranteed $239,850.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Baskin-Robbins 31 Ice Cream franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 18 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

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