Loan to Buy Baskin-Robbins 31 Ice Cream Franchise Issued By Cit Small Business Lending Corp

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.

Getting money to buy a Baskin-Robbins 31 Ice Cream franchise shouldn't be overly burdensome. In 2003, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Phoenix, Arizona. Because Baskin-Robbins 31 Ice Cream was registered with the SBA's registry of franchises, this Arizona small business loan was issued on an expedited basis.

SBA Loan Borrower

DUNKIN DONUTS/BASKIN ROBBINS
PHOENIX, AZ 85051

SBA Loan Lender

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

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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/29/2003

Loan Approval Gross Amount

$438,000

Loan Approval from the SBA

Of the total $438,000 loan amount, the SBA guaranteed $328,500.

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 23 employees. This SBA loan request indicated that the loan would help generate 15 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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