U.S. Bank National Association Provides SBA Loan to Buy Shakley's Frozen Custard Franchise

Borrowing money to buy a Shakley's Frozen Custard franchise? U.S. Bank National Association has a history of making these loans and they are guaranteed by the SBA.

If you live near Mcallen, Texas and are interested in buying a Shakley's Frozen Custard franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by U.S. Bank National Association. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MORCOR, L.L.C.
MCALLEN, TX 78504

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

When it made this small business loan, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program aims to offer rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/2/2003

Loan Approval Gross Amount

$242,500

Loan Approval from the SBA

Of the total $242,500 loan amount, the SBA guaranteed $181,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Shakley's Frozen Custard franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $242,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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