Bank Of The Commonwealth Provides SBA Loan to Buy Tropical Smoothie Franchise

Borrowing money to purchase a Tropical Smoothie franchise? Bank Of The Commonwealth has a history of making these loans and they are guaranteed by the SBA.

Tropical Smoothie franchise loans are available to Greenville, North Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Bank Of The Commonwealth, based in Norfolk, Virginia, issued an SBA franchise loan for a Tropical Smoothie franchise in 2007. We've got all the details on this North Carolina small business loan.

SBA Loan Borrower

TROPICAL SMOOTHIE CAFE
GREENVILLE, NC 27834

SBA Loan Lender

BANK OF THE COMMONWEALTH
403 BOUSH ST
NORFOLK, VA 23510

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

722211 - Limited-Service Restaurants

Loan Approval Date

2/13/2007

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Tropical Smoothie franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the borrowed money would help create 10 new jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of The Commonwealth had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of The Commonwealth made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Tropical Smoothie Cafe

Equity Financing

Best Banks in Norfolk, Virginia

Getting a Business Loan in Virginia