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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Long Beach, Business Loans > Internatl City Bank Long Beach Business Loans > Coldstone Creamery-West Covina Loan | ||||
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Corona, California Bank for SBA Loans
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Corona, CA Entrepreneur Gets SBA Loan to Buy Cold Stone Creamery FranchiseNeed money to invest in a Cold Stone Creamery franchise? Internatl City Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Cold Stone Creamery franchise requires some effort but others before you have been successful. In 2003, Internatl City Bank issued an SBA franchise loan to an entrepreneur in Corona, California. Because Cold Stone Creamery was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis. SBA Loan Borrower COLDSTONE CREAMERY-WEST COVINA SBA Loan Lender INTERNATL CITY BANK This lender provides SBA small business loans 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 7/25/2003 Loan Approval Gross Amount $220,000 Loan Approval from the SBA Of the total $220,000 loan amount, the SBA guaranteed $165,000. 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 10 new jobs and retain 12 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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. Related Links: Obtaining Funding - Friends and Family Best Banks in Long Beach, California
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