Washington Entrepreneur Secures Financing to Buy Marble Slab Creamery Franchise

Need a loan to invest in a Marble Slab Creamery franchise? Washington 1st Internatl has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Redmond, Washington needed money to invest in a Marble Slab Creamery franchise back in 2002. Washington 1st Internatl issued an SBA franchise loan. Here are the details on this Washington small business loan.

SBA Loan Borrower

MARBLE SLAB CREAMERY
REDMOND, WA 98052

SBA Loan Lender

WASHINGTON 1ST INTERNATL
1035 320TH ST SOUTH
FEDERAL WAY, WA 98003

This lender issued this particular small 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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/29/2002

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Marble Slab Creamery franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

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.

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