California Entrepreneur Secures Financing to Buy Dippin Dots Franchise

Need a loan to purchase a Dippin Dots franchise? Spectrum Bank has a history of making these loans and they are guaranteed by the SBA.

Dippin Dots franchise loans are available to Long Beach, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Spectrum Bank, based in Irvine, California, issued an SBA franchise loan for a Dippin Dots franchise in 2006. We've got all the details on this California small business loan.

SBA Loan Borrower

FLASHY FROZEN DELIGHTS
LONG BEACH, CA 90802

SBA Loan Lender

SPECTRUM BANK
15615 ALTON PKWY
IRVINE, CA 92618

This lender issued this SBA loan 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

722211 - Limited-Service Restaurants

Loan Approval Date

3/3/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Dippin Dots franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Long Beach or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Dippin' Dots Franchising, Inc.

How to Raise Money

Find an SBA Lender in Irvine, California

California SBA 7A Lenders