Manlius, NY Entrepreneur Gets SBA Loan to Buy Mrs. Field's Cookies Franchise

Borrowing money to purchase a Mrs. Field's Cookies franchise? Hsbc Bank Usa has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Manlius, New York needed money to invest in a Mrs. Field's Cookies franchise back in 2005. Hsbc Bank Usa issued an SBA franchise loan. Here are the details on this New York small business loan.

SBA Loan Borrower

MRS FIELDS COOKIES
MANLIUS, NY 13214

SBA Loan Lender

HSBC BANK USA
ONE HSBC CTR
BUFFALO, NY 14203

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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/7/2005

Loan Approval Gross Amount

$74,250

Loan Approval from the SBA

Of the total $74,250 loan amount, the SBA guaranteed $63,112.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mrs. Field's Cookies franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? 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.

Related Links:

Mrs. Fields Original Cookies, Inc.

Determining Proper Capital Structure for a Business

Good Banks for Small Business in Buffalo, New York

Where to Get an SBA Loan New York