Missouri Entrepreneur Secures Financing to Buy Scottie's Frozen Custard Franchise

Borrowing money to buy a Scottie's Frozen Custard franchise? Arvest Bank has a history of making these loans and they are guaranteed by the SBA.

Scottie's Frozen Custard franchise loans are available to Diamond, Missouri entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Arvest Bank, based in Fayetteville, Arkansas, issued an SBA franchise loan for a Scottie's Frozen Custard franchise in 2002. We've got all the details on this Missouri small business loan.

SBA Loan Borrower

SHAKE'S FROZEN CUSTARD
DIAMOND, MO 64840

SBA Loan Lender

ARVEST BANK
75 N EAST AVE
FAYETTEVILLE, AR 72701

This was a Low Documentation SBA loan. The SBA started this program to minimize 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

6/25/2002

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Scottie's Frozen Custard franchise. At the time of the loan, the company had 26 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need business start up money in Diamond MO, you ought to talk with a local Diamond SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Diamond businesses.

We can help you find the best banks for small businesses in Diamond or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Getting a Small Business Loan

SBA 7A Lenders in Fayetteville, Arkansas

Arkansas SBA Bank Lenders