Merrill Lynch Bank Usa Provides SBA Loan to Buy Smoothie King health Food Store Franchise

Need money to invest in a Smoothie King health Food Store franchise? Merrill Lynch Bank Usa has a history of making these loans and they are guaranteed by the SBA.

If you live near Poway, California and are interested in buying a Smoothie King health Food Store franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Merrill Lynch Bank Usa. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SMOOTHIE KING
POWAY, CA 92064

SBA Loan Lender

MERRILL LYNCH BANK USA
15 W SOUTH TEMPLE, STE 300
SALT LAKE CITY, UT 84101

This lender issued this particular SBA bank 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.

NAICS Code

446191 - Food Supplement Stores

Loan Approval Date

7/5/2001

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Smoothie King health Food Store franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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.

This SBA loan was for $125,000. How would you spend $125,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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