Arizona Entrepreneur Secures Financing to Buy Ben & Jerry's Ice Cream Franchise

Borrowing money to buy a Ben & Jerry's Ice Cream franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Ben & Jerry's Ice Cream franchise may simply require a phone call to a local SBA banker. In 2004, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Tempe, Arizona. Because Ben & Jerry's Ice Cream was registered with the SBA's registry of franchises, this Arizona small business loan was issued on an expedited basis.

SBA Loan Borrower

BEN & JERRY 'S SCOOP SHOP
TEMPE, AZ 85280

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

5/26/2004

Loan Approval Gross Amount

$258,000

Loan Approval from the SBA

Of the total $258,000 loan amount, the SBA guaranteed $193,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Ben & Jerry's Ice Cream franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Ben & Jerry's Franchising, Inc.

Strategic Investors

Small Business Banks in Livingston, New Jersey

Getting an SBA Loan in New Jersey