Westland, MI Entrepreneur Gets SBA Loan to Buy Mrs. Field's Cookies Franchise

Need a loan to invest in a Mrs. Field's Cookies franchise? First Independence Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Mrs. Field's Cookies franchise may simply require a phone call to a local SBA banker. In 2004, First Independence Bank issued an SBA franchise loan to an entrepreneur in Westland, Michigan. Because Mrs. Field's Cookies was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

MRS. FIELD'S COOKIES
WESTLAND, MI 48185

SBA Loan Lender

FIRST INDEPENDENCE BANK
44 MICHIGAN AVE
DETROIT, MI 48226

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

9/28/2004

Loan Approval Gross Amount

$270,000

Loan Approval from the SBA

Of the total $270,000 loan amount, the SBA guaranteed $202,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mrs. Field's Cookies franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Mrs. Fields Original Cookies, Inc.

Small Business Loan

SBA Banks in Detroit, Michigan

SBA Lenders in Michigan