New Jersey Entrepreneur Secures Financing to Buy Petrucci's Dairy Barn Franchise

Need a loan to invest in a Petrucci's Dairy Barn franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

Petrucci's Dairy Barn franchise loans are available to Pennsauken (pensauken), New Jersey entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Commerce Bank, based in Devon, Pennsylvania, issued an SBA franchise loan for a Petrucci's Dairy Barn franchise in 2000. We've got all the details on this New Jersey small business loan.

SBA Loan Borrower

PETRUCCI'S ICE CREAM
PENNSAUKEN (PENSAUKEN), NJ 08110

SBA Loan Lender

COMMERCE BANK
200 LANCASTER AVE
DEVON, PA 19333

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.

SIC Code

5441 - Candy, Nut, and Confectionery Stores

Loan Approval Date

7/20/2000

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $90,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Petrucci's Dairy Barn franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the funding would help generate 6 new jobs.

Next Steps for Getting an SBA Loan

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Commerce Bank and they will explain how you can get an SBA loan for your company.

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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