Loan to Buy Rita's Real Italian Water Ice Franchise Issued By First Star Savings Bank

Need a loan 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.

If you live near Brodheadsville, Pennsylvania and are interested in buying a Rita's Real Italian Water Ice franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by First Star Savings Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

RITA'S WATER ICE
BRODHEADSVILLE, PA 18322

SBA Loan Lender

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

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

10/20/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Rita's Real Italian Water Ice franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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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