California Entrepreneur Secures Financing to Buy Baskin-Robbins 31 Ice Cream Franchise

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

If you live near San Bernardino, California 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 2007 by Comerica Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

BRUDER CORP DBA BASKIN-ROBBINS
San Bernardino, CA 92404

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This lender provides SBA commercial 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

5/15/2007

Loan Approval Gross Amount

$175,000

Loan Approval from the SBA

Of the total $175,000 loan amount, the SBA guaranteed $131,250.

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 6 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 12 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

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.

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