Long Beach, CA Entrepreneur Gets SBA Loan to Buy Gelato Classico Shop ice Cream Franchise

Borrowing money to invest in a Gelato Classico Shop ice Cream franchise? Metropacific Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Long Beach, California needed money to invest in a Gelato Classico Shop ice Cream franchise back in 2006. Metropacific Bank issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

GELARO DI ROMA
LONG BEACH, CA 90802

SBA Loan Lender

METROPACIFIC BANK
18831 VON KARMAN AVE, STE 101
IRVINE, CA 92612

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/14/2006

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Gelato Classico Shop ice Cream franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Metropacific Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Metropacific Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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