Comerica Bank Provides SBA Loan to Buy Baskin-Robbins 31 Ice Cream Franchise
Need a loan 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.
Getting money to buy a Baskin-Robbins 31 Ice Cream franchise shouldn't be too tough. In 2006, Comerica Bank issued an SBA franchise loan to an entrepreneur in Tucson, Arizona. Because Baskin-Robbins 31 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
BASKIN-ROBBINS RITA RANCH
TUCSON, AZ 85747
SBA Loan Lender
COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027
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
722211 - Limited-Service Restaurants
Loan Approval Date
7/27/2006
Loan Approval Gross Amount
$236,000
Loan Approval from the SBA
Of the total $236,000 loan amount, the SBA guaranteed $177,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Baskin-Robbins 31 Ice Cream franchise. At the time of the loan, the company
had 2 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 5 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Don't apply for a loan directly with the SBA. You need to 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.
If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Comerica Bank 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.
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