New York Entrepreneur Secures Financing to Buy Baskin-Robbins 31 Ice Cream Franchise

Borrowing money to purchase a Baskin-Robbins 31 Ice Cream franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in New York, New York needed money to invest in a Baskin-Robbins 31 Ice Cream franchise back in 2004. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this New York small business loan.

SBA Loan Borrower

ANIL KAPOOR
NEW YORK, NY 10461

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

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

311811 - Retail Bakeries

Loan Approval Date

1/2/2004

Loan Approval Gross Amount

$343,000

Loan Approval from the SBA

Of the total $343,000 loan amount, the SBA guaranteed $257,250.

More Information on This SBA Loan

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

Start the Process for Getting an SBA Loan Today!

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $343,000 loan. Remember, if it to be, it is up to me!

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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