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

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

If you live near Virginia Beach, Virginia and are interested in buying a Tropical Smoothie franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Wachovia Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

TROPICAL SMOOTHIE
VIRGINIA BEACH, VA 23452

SBA Loan Lender

WACHOVIA BANK
420 N 20TH ST
BIRMINGHAM, AL 35203

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

4/7/2004

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Tropical Smoothie franchise. At the time of the loan, the company had 8 employees. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 8 existing jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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

Angel Investors

SBA Approved Banks in Birmingham, Alabama

SBA Participating Banks in Alabama