Loan to Buy Ben & Jerry's Ice Cream Franchise Issued By Cit. National Bank - Bluffton

Need money to buy a Ben & Jerry's Ice Cream franchise? Cit. National Bank - Bluffton has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Ben & Jerry's Ice Cream franchise may simply require a phone call to a local SBA banker. In 2004, Cit. National Bank - Bluffton issued an SBA franchise loan to an entrepreneur in Columbus, Ohio. Because Ben & Jerry's Ice Cream was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

BEN & JERRY'S
COLUMBUS, OH 43221

SBA Loan Lender

CIT. NATIONAL BANK - BLUFFTON
707 FOX RD, STE 100
VAN WERT, OH 45891

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/15/2004

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 Ben & Jerry's Ice Cream franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small 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 need business start up money in Columbus OH, you ought to talk with a local Columbus SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Columbus businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Ben & Jerry's Franchising, Inc.

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Where to Get an SBA Loan in Van Wert, Ohio

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