Borrow Money to Buy a Rita's Real Italian Water Ice Franchise

Need a loan to purchase a Rita's Real Italian Water Ice franchise? Quakertown Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Rita's Real Italian Water Ice franchise? If so, here's a 2006 SBA franchise loan that you should know about. Quakertown Bank was the lender and the entrepreneur was based in Schwenksville, Pennsylvania.

SBA Loan Borrower

ICE BREAKERS INC
SCHWENKSVILLE, PA 19473

SBA Loan Lender

QUAKERTOWN BANK
15 N THIRD ST
QUAKERTOWN, PA 18951

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

12/8/2006

Loan Approval Gross Amount

$184,400

Loan Approval from the SBA

Of the total $184,400 loan amount, the SBA guaranteed $92,200.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Rita's Real Italian Water Ice franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help create 5 new jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

Related Links:

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SBA 7A Banks in Quakertown, Pennsylvania

Pennsylvania SBA 7A Lenders