District of Columbia Entrepreneur Secures Financing to Buy Maggiemoo's ice Cream Franchise

Need a loan to buy a Maggiemoo's ice Cream franchise? Provident Bank Of Maryland has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Maggiemoo's ice Cream franchise requires some effort but others before you have been successful. In 2003, Provident Bank Of Maryland issued an SBA franchise loan to an entrepreneur in Washington, District of Columbia. Because Maggiemoo's ice Cream was registered with the SBA's registry of franchises, this District of Columbia small business loan was issued on an expedited basis.

SBA Loan Borrower

MAGGIEMOO'S
WASHINGTON, DC 20009

SBA Loan Lender

PROVIDENT BANK OF MARYLAND
37 E MAIN ST
WARRENTON, VA 20186

This lender provides SBA 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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

1/29/2003

Loan Approval Gross Amount

$265,000

Loan Approval from the SBA

Of the total $265,000 loan amount, the SBA guaranteed $198,750.

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 8 employees. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start business in Washington DC, you ought to talk with a local Washington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Washington businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Provident Bank Of Maryland 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.

Related Links:

MaggieMoo's International, LLC

How to Raise Money

SBA Approved Banks in Warrenton, Virginia

Getting a Business Loan in Virginia