Louisiana Entrepreneur Secures Financing to Buy Maggiemoo's ice Cream Franchise

Need a loan to purchase a Maggiemoo's ice Cream franchise? Iberiabank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Maggiemoo's ice Cream franchise is doable. In 2003, Iberiabank issued an SBA franchise loan to an entrepreneur in West Monroe, Louisiana. Because Maggiemoo's ice Cream was registered with the SBA's registry of franchises, this Louisiana small business loan was issued on an expedited basis.

SBA Loan Borrower

MAGGIE MOO'S
WEST MONROE, LA 71291

SBA Loan Lender

IBERIABANK
400 N VIENNA
RUSTON, LA 71270

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311520 - Ice Cream and Frozen Dessert Manufacturing

Loan Approval Date

1/22/2003

Loan Approval Gross Amount

$149,000

Loan Approval from the SBA

Of the total $149,000 loan amount, the SBA guaranteed $126,650.

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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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

Strategic Investors

Small Bank Loans in Ruston, Louisiana

Louisiana SBA Bank Lenders