Borrow Money to Buy a Cold Stone Creamery Franchise

Borrowing money to invest in a Cold Stone Creamery franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Cold Stone Creamery franchise may simply require a phone call to a local SBA banker. In 2003, Comerica Bank issued an SBA franchise loan to an entrepreneur in Arlington Heights, Illinois. Because Cold Stone Creamery was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

COLD STONE CREAMERY #266
ARLINGTON HEIGHTS, IL 60005

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

4/22/2003

Loan Approval Gross Amount

$268,000

Loan Approval from the SBA

Of the total $268,000 loan amount, the SBA guaranteed $201,000.

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 2 employees. The loan application indicated that the loan would help generate 20 new jobs and retain 20 existing jobs.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $268,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

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