Bank Of America Provides SBA Loan to Buy Cookies In Bloom Franchise
Need money to buy a Cookies In Bloom franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.
Want to borrow money to buy a Cookies In Bloom franchise? If so, here's a 2004 SBA franchise loan that you should know about. Bank Of America was the lender and the entrepreneur was based in Grapevine, Texas.
SBA Loan Borrower
HUGS & SNUGS INC. DBA COOKIES
GRAPEVINE, TX 76051
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
311811 - Retail Bakeries
Loan Approval Date
10/14/2004
Loan Approval Gross Amount
$37,500
Loan Approval from the SBA
Of the total $37,500 loan amount, the SBA guaranteed $18,750.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Cookies In Bloom franchise. At the time of the loan, the company
had 4 employees. The loan application did not indicate that the business planned to use the funding to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
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:
Cookies in Bloom
Obtaining Funding - Friends and Family
Small Business Banks in Charlotte, North Carolina
North Carolina SBA Banks