Loan to Buy Maggiemoo's ice Cream Franchise Issued By Extraco Banks

Borrowing money to invest in a Maggiemoo's ice Cream franchise? Extraco Banks has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Maggiemoo's ice Cream franchise may simply require a phone call to a local SBA banker. In 2001, Extraco Banks issued an SBA franchise loan to an entrepreneur in Temple, Texas. Because Maggiemoo's ice Cream was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

MAGGIE MOO'S
TEMPLE, TX 76504

SBA Loan Lender

EXTRACO BANKS
3615 S 31ST
TEMPLE, TX 76502

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

7/31/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Maggiemoo's ice Cream franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours 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:

MaggieMoo's International, LLC

Obtaining Funding - How to Decide How Much to Raise

SBA Approved Banks in Temple, Texas

Texas SBA 7A Lenders