Pennsylvania Entrepreneur Secures Financing to Buy Maggiemoo's ice Cream Franchise

Need a loan to purchase a Maggiemoo's ice Cream franchise? Preferred Capital Bidco, Inc. has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Glen Mills, Pennsylvania needed money to invest in a Maggiemoo's ice Cream franchise back in 2006. Preferred Capital Bidco, Inc. issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

MAGGIE MOO'S ICE CREAM AND TRE
GLEN MILLS, PA 19342

SBA Loan Lender

PREFERRED CAPITAL BIDCO, INC.
300 DELAWARE AVENUE, SUITE 13
WILMINGTON, DE 19801

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/14/2006

Loan Approval Gross Amount

$260,500

Loan Approval from the SBA

Of the total $260,500 loan amount, the SBA guaranteed $195,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Maggiemoo's ice Cream franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Getting an SBA Loan For Your Business

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.

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 $260,500 loan. Remember, where there is a will, there is a way!

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:

MaggieMoo's International, LLC

Understanding Dilution

SBA Approved Banks in Wilmington, Delaware

SBA Delaware Banks