Spring Hill, FL Entrepreneur Gets SBA Loan to Buy Baskin-Robbins 31 Ice Cream Franchise

Borrowing money to buy a Baskin-Robbins 31 Ice Cream franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Spring Hill, Florida needed money to invest in a Baskin-Robbins 31 Ice Cream franchise back in 2000. Bank Of America issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

DUNKIN DONUTS/BASKIN ROBBINS
SPRING HILL, FL 34606

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

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.

SIC Code

5812 - Eating Places

Loan Approval Date

8/17/2000

Loan Approval Gross Amount

$445,000

Loan Approval from the SBA

Of the total $445,000 loan amount, the SBA guaranteed $333,750.

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 45 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 46 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.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Debt Financing

Small Business Banks in Charlotte, North Carolina

Find an SBA Lender in North Carolina