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

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

Getting money to buy a Gelato Classico Shop ice Cream franchise shouldn't be overly burdensome. In 2005, Metropacific Bank issued an SBA franchise loan to an entrepreneur in Long Beach, California. Because Gelato Classico Shop ice Cream was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

GELATO DI ROMA
LONG BEACH, CA 90802

SBA Loan Lender

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

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/27/2005

Loan Approval Gross Amount

$115,000

Loan Approval from the SBA

Of the total $115,000 loan amount, the SBA guaranteed $97,750.

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. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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