Citizens & Farmers Bank Provides SBA Loan to Buy Bruster's Franchise

Need a loan to purchase a Bruster's franchise? Citizens & Farmers Bank has a history of making these loans and they are guaranteed by the SBA.

Bruster's franchise loans are available to Richmond, Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Citizens & Farmers Bank, based in Midlothian, Virginia, issued an SBA franchise loan for a Bruster's franchise in 2004. We've got all the details on this Virginia small business loan.

SBA Loan Borrower

BRUSTERS
RICHMOND, VA 23233

SBA Loan Lender

CITIZENS & FARMERS BANK
1400 ALVERSER DR, C & F CENTE
MIDLOTHIAN, VA 23112

This lender issued this SBA bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

531120 - Lessors of Nonresidential Buildings

Loan Approval Date

3/25/2004

Loan Approval Gross Amount

$320,000

Loan Approval from the SBA

Of the total $320,000 loan amount, the SBA guaranteed $240,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Bruster's franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to add employees 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 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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