Borrow Money to Buy a Baskin-Robbins 31 Ice Cream Franchise

Borrowing money to invest in a Baskin-Robbins 31 Ice Cream franchise? American Bank Of Commerce has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Lubbock, Texas needed money to invest in a Baskin-Robbins 31 Ice Cream franchise back in 2007. American Bank Of Commerce issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

BASKIN ROBBINS
LUBBOCK, TX 79424

SBA Loan Lender

AMERICAN BANK OF COMMERCE
W 82ND ST AND US HWY 62/82
WOLFFORTH, TX 79382

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

7/20/2007

Loan Approval Gross Amount

$220,500

Loan Approval from the SBA

Of the total $220,500 loan amount, the SBA guaranteed $165,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Baskin-Robbins 31 Ice Cream franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 12 new jobs and retain 14 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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