New Mexico Bank & Trust Provides SBA Loan to Buy Cold Stone Creamery Franchise

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

An entrepreneur in Albuquerque, New Mexico needed money to invest in a Cold Stone Creamery franchise back in 2004. New Mexico Bank & Trust issued an SBA franchise loan. Here are the details on this New Mexico small business loan.

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 debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

4/29/2004

Loan Approval Gross Amount

$216,000

Loan Approval from the SBA

Of the total $216,000 loan amount, the SBA guaranteed $108,000.

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. This SBA loan request indicated that the loan would help create 21 new jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

Role of Business Plan When Raising Money

Where to Get an SBA Loan in Albuquerque, New Mexico

New Mexico SBA Banks