Borrow Money to Buy a Shake's Frozen Custard Franchise

Borrowing money to purchase a Shake's Frozen Custard franchise? Mid-Missouri Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Webb City, Missouri needed money to invest in a Shake's Frozen Custard franchise back in 2006. Mid-Missouri Bank issued an SBA franchise loan. Here are the details on this Missouri small business loan.

SBA Loan Borrower

SHAKE'S FROZEN CUSTARD
WEBB CITY, MO 64870

SBA Loan Lender

MID-MISSOURI BANK
100 N MAIN ST
WEBB CITY, MO 64870

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

7/18/2006

Loan Approval Gross Amount

$531,900

Loan Approval from the SBA

Of the total $531,900 loan amount, the SBA guaranteed $398,925.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Shake's Frozen Custard franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Mid-Missouri Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Mid-Missouri Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Shake's Frozen Custard, Inc

Realistic Debt Financing Options

Banks in Webb City, Missouri

SBA Lenders in Missouri