Pnc Bank, National Association Provides SBA Loan to Buy Maggiemoo's ice Cream Franchise

Borrowing money to buy a Maggiemoo's ice Cream franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Maggiemoo's ice Cream franchise may simply require a phone call to a local SBA banker. In 2006, Pnc Bank, National Association issued an SBA franchise loan to an entrepreneur in Silver Spring, Maryland. Because Maggiemoo's ice Cream was registered with the SBA's registry of franchises, this Maryland small business loan was issued on an expedited basis.

SBA Loan Borrower

MAGGIEMOO'S ICE CREAM & EATERY
SILVER SPRING, MD 20905

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/18/2006

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Maggiemoo's ice Cream franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $250,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

MaggieMoo's International, LLC

Advice on Getting a Small Business Loan

Small Business Banks in Pittsburgh, Pennsylvania

Getting an SBA Loan in Pennsylvania