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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Togo's Eatery/baskin-Robbins Loan | ||||
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Ontario, California Bank Loan
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Loan to Buy Baskin-Robbins 31 Ice Cream Franchise Issued By Wells Fargo BankNeed money to buy a Baskin-Robbins 31 Ice Cream franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Baskin-Robbins 31 Ice Cream franchise requires some effort but others before you have been successful. In 2000, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Ontario, California. Because Baskin-Robbins 31 Ice Cream was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis. SBA Loan Borrower TOGO'S EATERY/BASKIN-ROBBINS SBA Loan Lender WELLS FARGO BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 3/15/2000 Loan Approval Gross Amount $366,800 Loan Approval from the SBA Of the total $366,800 loan amount, the SBA guaranteed $275,100. 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 documents indicated that the loan would help generate 25 new jobs and retain 27 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Where to Get an SBA Loan in San Jose, California
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