Alabama Entrepreneur Secures Financing to Buy Tropical Smoothie Franchise

Borrowing money to invest in a Tropical Smoothie franchise? Regions Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Tropical Smoothie franchise shouldn't be too tough. In 2002, Regions Bank issued an SBA franchise loan to an entrepreneur in Birmingham, Alabama. Because Tropical Smoothie was registered with the SBA's registry of franchises, this Alabama small business loan was issued on an expedited basis.

SBA Loan Borrower

TROPICAL SMOOTHIE CAFE
BIRMINGHAM, AL 35209

SBA Loan Lender

REGIONS BANK
1900 5TH AVE NORTH
BIRMINGHAM, AL 35203

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/18/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 8 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Regions Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Tropical Smoothie Cafe

Startup Funding Tip

SBA 7A Lenders in Birmingham, Alabama

SBA Participating Banks in Alabama