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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Virginia Beach, Business Loans > Resource Bank Virginia Beach Business Loans > Tropical Smoothie Cafe Loan | ||||
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Chesapeake, Virginia Bank for SBA Loans
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Virginia Entrepreneur Secures Financing to Buy Tropical Smoothie FranchiseNeed a loan to purchase a Tropical Smoothie franchise? Resource Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Chesapeake, Virginia needed money to invest in a Tropical Smoothie franchise back in 2005. Resource Bank issued an SBA franchise loan. Here are the details on this Virginia small business loan. SBA Loan Borrower TROPICAL SMOOTHIE CAFE SBA Loan Lender RESOURCE BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 9/9/2005 Loan Approval Gross Amount $243,000 Loan Approval from the SBA Of the total $243,000 loan amount, the SBA guaranteed $182,250. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 14 new jobs and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. This SBA loan was for $243,000. How would you spend $243,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Best Banks in Virginia Beach, Virginia
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