Sparks, NV Entrepreneur Gets SBA Loan to Buy Baskin-Robbins 31 Ice Cream Franchise

Need money to purchase a Baskin-Robbins 31 Ice Cream franchise? California Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

If you live near Sparks, Nevada and are interested in buying a Baskin-Robbins 31 Ice Cream franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by California Bank & Trust. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

BASKIN-ROBBINS
SPARKS, NV 89431

SBA Loan Lender

CALIFORNIA BANK & TRUST
2399 GATEWAY OAKS DR, STE 110
SACRAMENTO, CA 95833

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/23/2002

Loan Approval Gross Amount

$134,600

Loan Approval from the SBA

Of the total $134,600 loan amount, the SBA guaranteed $114,410.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Baskin-Robbins 31 Ice Cream franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into California Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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