Loan to Buy Meadows Original Frozen Custard the Franchise Issued By First Commonwealth Bank

Borrowing money to buy a Meadows Original Frozen Custard the franchise? First Commonwealth Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Hollidaysburg, Pennsylvania needed money to invest in a Meadows Original Frozen Custard the franchise back in 2006. First Commonwealth Bank issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

THE MEADOW OF CHAMBERSBURG
HOLLIDAYSBURG, PA 16648

SBA Loan Lender

FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648

This lender processed this small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

311520 - Ice Cream and Frozen Dessert Manufacturing

Loan Approval Date

5/10/2006

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Meadows Original Frozen Custard the franchise. At the time of the loan, the company had 15 employees. The SBA loan documents indicated that the borrowed money would help generate 15 new jobs.

Getting an SBA Loan For Your Business

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Commonwealth Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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