Virginia Beach, VA Entrepreneur Gets SBA Loan to Buy Tropical Smoothie Franchise

Borrowing money to invest in a Tropical Smoothie franchise? Resource Bank has a history of making these loans and they are guaranteed by the SBA.

Tropical Smoothie franchise loans are available to Virginia Beach, Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Resource Bank, based in Virginia Beach, Virginia, issued an SBA franchise loan for a Tropical Smoothie franchise in 2004. We've got all the details on this Virginia small business loan.

SBA Loan Borrower

TROPICAL SMOOTHIE CAFE
VIRGINIA BEACH, VA 23464

SBA Loan Lender

RESOURCE BANK
4429 BONNEY RD, STE 300
VIRGINIA BEACH, VA 23462

This lender provides SBA business 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

4/28/2004

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 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 Tropical Smoothie franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 2 existing jobs.

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

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great funding source

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Resource Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Tropical Smoothie Cafe

A Company That Helps Entrepreneurs

Banks in Virginia Beach, Virginia

Virginia SBA 7A Lenders