Loan to Buy Marble Slab Creamery Franchise Issued By Suntrust Bank
Borrowing money to buy a Marble Slab Creamery franchise? Suntrust Bank has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in Knoxville, Tennessee needed money to invest in a Marble Slab Creamery franchise back in 2003. Suntrust Bank issued an SBA franchise loan. Here are the details on this Tennessee small business loan.
SBA Loan Borrower
MARBLE SLAB CREAMERY
KNOXVILLE, TN 37921
SBA Loan Lender
SUNTRUST BANK
300 E MCBEE AVE
GREENVILLE, SC 29601
This lender issued this debt financing under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began 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.
NAICS Code
722213 - Snack and Nonalcoholic Beverage Bars
Loan Approval Date
3/4/2003
Loan Approval Gross Amount
$300,000
Loan Approval from the SBA
Of the total $300,000 loan amount, the SBA guaranteed $225,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Marble Slab Creamery franchise. At the time of the loan, the company
had only one employee. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Suntrust Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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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Marble Slab Creamery, Inc.
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