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November 21, 2024  
 
 
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Where to Get an SBA 7A Loan to Purchase a Franchise

 

 
Loan Census SBA Loan Info

Borrow Money to Buy a Cold Stone Creamery Franchise

Need a loan to buy a Cold Stone Creamery franchise? New Mexico Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

If you live near Albuquerque, New Mexico and are interested in buying a Cold Stone Creamery franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by New Mexico Bank & Trust. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

LORDS OF ICE CREAM LLC
ALBUQUERQUE, NM 87114

SBA Loan Lender

NEW MEXICO BANK & TRUST
320 GOLD SW
ALBUQUERQUE, NM 87102

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

6/13/2003

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cold Stone Creamery franchise. At the time of the loan, the company had 20 employees. The SBA loan documents indicated that the funding would help generate 20 new jobs.

Getting an SBA Loan For Your Business

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

We can help you find the best banks for small businesses in Albuquerque or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Cold Stone Creamery, Inc.

The Art of Bootstrapping

SBA 7A Banks for Albuquerque, New Mexico Loans

SBA Participating Banks in New Mexico