Borrow Money to Buy a Tcby Franchise

Borrowing money to invest in a Tcby franchise? Bank Of Pensacola has a history of making these loans and they are guaranteed by the SBA.

Tcby franchise loans are available to Pensacola, Florida entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Bank Of Pensacola, based in Pensacola, Florida, issued an SBA franchise loan for a Tcby franchise in 2002. We've got all the details on this Florida small business loan.

SBA Loan Borrower

PRETZEL TIME AND "TCBY"
PENSACOLA, FL 32504

SBA Loan Lender

BANK OF PENSACOLA
125 W ROMANA ST
PENSACOLA, FL 32502

This lender issued this particular SBA business 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.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/7/2002

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Tcby franchise. At the time of the loan, the company had 9 employees. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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:

TCBY Systems, LLC

Microlending as a Small Business Funding Source

Best Banks for Small Business in Pensacola, Florida

SBA Lenders in Florida