Getting an SBA Loan for Ice Cream and Frozen Dessert Manufacturing

Looking for commercial loans for ice cream and frozen dessert manufacturing? An SBA loan may be just what you've been looking for. This $150,000 ice cream and frozen dessert manufacturing loan was issued by a Rhode Island bank.

This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Domestic Bank, out of Cranston, Rhode Island. The loan was granted and they received $150,000 to help grow their Pawtucket, Rhode Island business.

SBA Loan Borrower

COMPANY TYPE: ICE CREAM AND FROZEN DESSERTS
PAWTUCKET, RI 02860

SBA Loan Lender

DOMESTIC BANK
815 RESERVOIR AVE
CRANSTON, RI 02910

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.

SIC Code

2024 - Ice Cream and Frozen Desserts

NAICS Code

311520 - Ice Cream and Frozen Dessert Manufacturing

Loan Approval Date

6/21/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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 $150,000 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.

Related Links:

Equity Financing

Where to Get an SBA Loan in Cranston, Rhode Island

Find an SBA Lender in Rhode Island