South Ogden, UT Entrepreneur Gets SBA Loan to Buy Mrs. Field's Cookies Franchise

Need money to buy a Mrs. Field's Cookies franchise? Barnes Banking Company has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Mrs. Field's Cookies franchise shouldn't be overly burdensome. In 2003, Barnes Banking Company issued an SBA franchise loan to an entrepreneur in South Ogden, Utah. Because Mrs. Field's Cookies was registered with the SBA's registry of franchises, this Utah small business loan was issued on an expedited basis.

SBA Loan Borrower

MRS. FIELDS COOKIES
SOUTH OGDEN, UT 84403

SBA Loan Lender

BARNES BANKING COMPANY
849 W HILL FIELD RD
LAYTON, UT 84041

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

10/17/2003

Loan Approval Gross Amount

$43,700

Loan Approval from the SBA

Of the total $43,700 loan amount, the SBA guaranteed $37,145.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mrs. Field's Cookies franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Mrs. Fields Original Cookies, Inc.

Borrowing Money from Friends and Family

SBA 7A Banks in Layton, Utah

Getting an SBA Loan in Utah