Myrtle Beach, SC Entrepreneur Gets SBA Loan to Buy Edible Arrangements Franchise

Borrowing money to buy an Edible Arrangements franchise? Branch Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Edible Arrangements franchise may simply require a phone call to a local SBA banker. In 2005, Branch Bank & Trust issued an SBA franchise loan to an entrepreneur in Myrtle Beach, South Carolina. Because Edible Arrangements was registered with the SBA's registry of franchises, this South Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

EDIBLE ARRANGEMENTTRANSACTION
MYRTLE BEACH, SC 29577

SBA Loan Lender

BRANCH BANK & TRUST
2619 OAK ST
MYRTLE BEACH, SC 29577

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

5/27/2005

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Edible Arrangements franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Branch Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Edible Arrangements

Accountant's Role in Securing Financing

SBA 7A Banks in Myrtle Beach, South Carolina

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