Cedar Park, TX Entrepreneur Gets SBA Loan to Buy Rocky Mountain Chocolate Factory Franchise

Need money to buy a Rocky Mountain Chocolate Factory franchise? American Bank Of Commerce has a history of making these loans and they are guaranteed by the SBA.

Rocky Mountain Chocolate Factory franchise loans are available to Cedar Park, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, American Bank Of Commerce, based in Austin, Texas, issued an SBA franchise loan for a Rocky Mountain Chocolate Factory franchise in 2003. We've got all the details on this Texas small business loan.

SBA Loan Borrower

ROCKY MOUNTAIN CHOCOLATE FACTO
11200 LAKELINE MALL DR
CEDAR PARK, TX 78613

SBA Loan Lender

AMERICAN BANK OF COMMERCE
10920 LAKELINE MALL DR
AUSTIN, TX 78717

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. 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

445292 - Confectionery and Nut Stores

Loan Approval Date

4/15/2003

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, Rocky Mountain Chocolate Facto, borrowed this money for an existing business. This loan was used to buy a Rocky Mountain Chocolate Factory franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. This loan was paid in full, and was closed out on 9/29/2006.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like Rocky Mountain Chocolate Facto did when it applied for and received this $150,000 loan. Remember, anyone can do it... so why not you?

About This SBA Loan Information:

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

Related Links:

Rocky Mountain Chocolate Factory

Choosing VC Firms

Who Lends Money to Small Businesses in Austin, Texas

Texas SBA Bank Lenders

If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.