Draper, UT Entrepreneur Gets SBA Loan to Buy Cold Stone Creamery Franchise

Need a loan to invest in a Cold Stone Creamery franchise? Bank Of American Fork has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Cold Stone Creamery franchise shouldn't be overly burdensome. In 2002, Bank Of American Fork issued an SBA franchise loan to an entrepreneur in Draper, Utah. Because Cold Stone Creamery was registered with the SBA's registry of franchises, this Utah small business loan was issued on an expedited basis.

SBA Loan Borrower

COLD STONE CREAMERY
DRAPER, UT 84020

SBA Loan Lender

BANK OF AMERICAN FORK
855 EAST 9400 SOUTH
SANDY, UT 84094

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/11/2002

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $45,000.

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 12 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

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

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.

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