Loan to Buy Cold Stone Creamery Franchise Issued By Irwin Union Bank & Trust

Need a loan to invest in a Cold Stone Creamery franchise? Irwin Union Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

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

SBA Loan Borrower

EXTREME CREAMERY LLC AND BARRY
COLUMBUS, IN 47201

SBA Loan Lender

IRWIN UNION BANK & TRUST
500 WASHINGTON ST
COLUMBUS, IN 47201

This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/7/2004

Loan Approval Gross Amount

$305,600

Loan Approval from the SBA

Of the total $305,600 loan amount, the SBA guaranteed $229,200.

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 SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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