Maryland Entrepreneur Secures Financing to Buy Rita's Real Italian Water Ice Franchise

Need a loan to invest in a Rita's Real Italian Water Ice franchise? Rbs Citizens has a history of making these loans and they are guaranteed by the SBA.

If you live near Havre De Grace, Maryland and are interested in buying a Rita's Real Italian Water Ice franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Rbs Citizens. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MILDRED'S ICE WORKS, INC.
HAVRE DE GRACE, MD 21078

SBA Loan Lender

RBS CITIZENS
191 SOCIAL ST
WOONSOCKET, RI 02895

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

4/12/2001

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Rita's Real Italian Water Ice franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Rbs Citizens and they will explain how you can get an SBA loan for your company.

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 Approved Banks in Woonsocket, Rhode Island

Rhode Island SBA Banks