Cheyenne, WY Entrepreneur Gets SBA Loan to Buy Rubyjuice Franchise

Need a loan to purchase a Rubyjuice franchise? Cheyenne State Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Rubyjuice franchise is doable. In 2003, Cheyenne State Bank issued an SBA franchise loan to an entrepreneur in Cheyenne, Wyoming. Because Rubyjuice was registered with the SBA's registry of franchises, this Wyoming small business loan was issued on an expedited basis.

SBA Loan Borrower

RUBYJUICE FRUIT AND SMOOTHIES
CHEYENNE, WY 82001

SBA Loan Lender

CHEYENNE STATE BANK
101 W 19TH ST
CHEYENNE, WY 82001

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424490 - Grocery and Related Products Merchant Wholesalers

Loan Approval Date

12/16/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Rubyjuice franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, feel the fear, and do it anyway.

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:

Rubyjuice Fruit and Smoothies

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Best Cheyenne, Wyoming Banks for Small Business

SBA Lenders in Wyoming