Loan to Buy Rocky Mountain Chocolate Factory Franchise Issued By Western Reserve Bank

Need money to buy a Rocky Mountain Chocolate Factory franchise? Western Reserve Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Burbank, Ohio and are interested in buying a Rocky Mountain Chocolate Factory franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Western Reserve Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ROCKY MOUNTAIN CHOCOLATE FCTRY
BURBANK, OH 44214

SBA Loan Lender

WESTERN RESERVE BANK
4015 MEDINA RD
MEDINA, OH 44256

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5441 - Candy, Nut, and Confectionery Stores

NAICS Code

445292 - Confectionery and Nut Stores

Loan Approval Date

5/1/2000

Loan Approval Gross Amount

$540,000

Loan Approval from the SBA

Of the total $540,000 loan amount, the SBA guaranteed $405,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Rocky Mountain Chocolate Factory franchise. At the time of the loan, the company had 15 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

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

If you are raising money in Burbank OH, you ought to talk with a local Burbank SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Burbank businesses.

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 $540,000 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:

Rocky Mountain Chocolate Factory

Obtaining Funding - How to Borrow Money

SBA Participating Banks in Medina, Ohio

SBA Participating Banks in Ohio