Massachusetts Entrepreneur Secures Financing to Buy Cookie Bouquet Franchise

Need money to buy a Cookie Bouquet franchise? Enterprise Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Leominster, Massachusetts needed money to invest in a Cookie Bouquet franchise back in 2002. Enterprise Bank & Trust issued an SBA franchise loan. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COOKIE BOUQUET
LEOMINSTER, MA 01453

SBA Loan Lender

ENTERPRISE BANK & TRUST
4 CENTRAL ST
LEOMINSTER, MA 01453

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5461 - Retail Bakeries

NAICS Code

445291 - Baked Goods Stores

Loan Approval Date

10/9/2002

Loan Approval Gross Amount

$100,300

Loan Approval from the SBA

Of the total $100,300 loan amount, the SBA guaranteed $85,255.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cookie Bouquet franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

The Friends and Family Network

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Massachusetts SBA Banks