Texas Entrepreneur Secures Financing to Buy Maggiemoo's ice Cream Franchise

Need money to buy a Maggiemoo's ice Cream franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Maggiemoo's ice Cream franchise loans are available to Carrollton, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Comerica Bank, based in Houston, Texas, issued an SBA franchise loan for a Maggiemoo's ice Cream franchise in 2002. We've got all the details on this Texas small business loan.

SBA Loan Borrower

MAGGIE MOO'S ICE CREAM & TREAT
CARROLLTON, TX 75010

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

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

4/17/2002

Loan Approval Gross Amount

$196,500

Loan Approval from the SBA

Of the total $196,500 loan amount, the SBA guaranteed $147,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Maggiemoo's ice Cream franchise. At the time of the loan, the company had 10 employees. The loan application indicated that the loan would help generate 10 new jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

MaggieMoo's International, LLC

Direct Public Offerings

SBA Participating Banks in Houston, Texas

Texas SBA Banks