Loan to Buy Ritter's Frozen Custard Franchise Issued By Wells Fargo Bank
Need a loan to invest in a Ritter's Frozen Custard franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in Indianapolis, Indiana needed money to invest in a Ritter's Frozen Custard franchise back in 2005. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this Indiana small business loan.
SBA Loan Borrower
GORMAE ENTERPRISES, LLC
INDIANAPOLIS, IN 46256
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
11/1/2005
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 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 Ritter's Frozen Custard franchise. At the time of the loan, the company
had 16 employees. The loan application indicated that the loan would help retain 16 existing jobs.
Start the Process for Getting an SBA Loan Today!
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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:
Ritter's Frozen Custard
How to Raise Money
Small Business Banks in San Jose, California
SBA Participating Banks in California