Charlotte, NC Entrepreneur Gets SBA Loan to Buy Marble Slab Creamery Franchise

Borrowing money to invest in a Marble Slab Creamery franchise? First National Bank - So. D/b/a 1st has a history of making these loans and they are guaranteed by the SBA.

Marble Slab Creamery franchise loans are available to Charlotte, North Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First National Bank - So. D/b/a 1st, based in Spartanburg, South Carolina, issued an SBA franchise loan for a Marble Slab Creamery franchise in 2006. We've got all the details on this North Carolina small business loan.

SBA Loan Borrower

MARBLE CLAB CREAMERY
CHARLOTTE, NC 28226

SBA Loan Lender

FIRST NATIONAL BANK - SO. D/B/A 1ST
215 N PINE ST
SPARTANBURG, SC 29302

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/19/2006

Loan Approval Gross Amount

$312,000

Loan Approval from the SBA

Of the total $312,000 loan amount, the SBA guaranteed $234,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Marble Slab Creamery franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First National Bank - So. D/b/a 1st and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Marble Slab Creamery, Inc.

Realistic Debt Financing Options

SBA Approved Banks in Spartanburg, South Carolina

SBA Participating Banks in South Carolina