Texas Entrepreneur Secures Financing to Buy Tropical Smoothie Franchise

Need a loan to buy a Tropical Smoothie franchise? Kleberg 1st National Bank - Kingsvil has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Austin, Texas needed money to invest in a Tropical Smoothie franchise back in 2005. Kleberg 1st National Bank - Kingsvil issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

TROPICAL SMOOTHIE CAFE
15905 ESTENCIA REY DR
AUSTIN, TX 78717

SBA Loan Lender

KLEBERG 1ST NATIONAL BANK - KINGSVIL
100 E KLEBERG AVE
KINGSVILLE, TX 78363

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - All Other Specialty Food Stores

Loan Approval Date

4/21/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower, Tropical Smoothie Cafe, borrowed this money for a new business. This loan was used to buy a Tropical Smoothie franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 8/1/2006.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Kleberg 1st National Bank - Kingsvil that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Tropical Smoothie Cafe

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