California Entrepreneur Secures Financing to Buy Tropical Smoothie Franchise

Need a loan to purchase a Tropical Smoothie franchise? City National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Tropical Smoothie franchise is doable. In 2004, City National Bank issued an SBA franchise loan to an entrepreneur in Santa Monica, California. Because Tropical Smoothie was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

GREENAPPLE, INC. A DELAWARE CO
SANTA MONICA, CA 90401

SBA Loan Lender

CITY NATIONAL BANK
606 S OLIVE ST
LOS ANGELES, CA 90014

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/5/2004

Loan Approval Gross Amount

$164,000

Loan Approval from the SBA

Of the total $164,000 loan amount, the SBA guaranteed $123,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Tropical Smoothie franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Tropical Smoothie Cafe

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SBA Participating Banks in Los Angeles, California

California SBA 7A Lenders