Borrow Money to Buy a My Favorite Muffin Franchise

Need a loan to invest in a My Favorite Muffin franchise? Community 1st Bank - Howard Cnty has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Kokomo, Indiana needed money to invest in a My Favorite Muffin franchise back in 2003. Community 1st Bank - Howard Cnty issued an SBA franchise loan. Here are the details on this Indiana small business loan.

SBA Loan Borrower

MY FAVORITE MUFFIN AND BAGEL
KOKOMO, IN 46902

SBA Loan Lender

COMMUNITY 1ST BANK - HOWARD CNTY
201 W SYCAMORE ST
KOKOMO, IN 46901

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/30/2003

Loan Approval Gross Amount

$348,000

Loan Approval from the SBA

Of the total $348,000 loan amount, the SBA guaranteed $261,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a My Favorite Muffin franchise. At the time of the loan, the company had 20 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Community 1st Bank - Howard Cnty 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.

Related Links:

A Company That Helps Entrepreneurs

Best Banks for Small Business in Kokomo, Indiana

Getting a Business Loan in Indiana