Eagan, MN Entrepreneur Gets SBA Loan to Buy Cold Stone Creamery Franchise

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

An entrepreneur in Eagan, Minnesota needed money to invest in a Cold Stone Creamery franchise back in 2004. Community Security Bank issued an SBA franchise loan. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

YMI'S FROZEN ASSETS, INC.
EAGAN, MN 55122

SBA Loan Lender

COMMUNITY SECURITY BANK
1100 1ST ST NE
NEW PRAGUE, MN 56071

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

722211 - Limited-Service Restaurants

Loan Approval Date

11/30/2004

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 17 employees. The SBA loan documents indicated that the funding would help generate 25 new jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Community Security Bank and they will explain how you can get an SBA loan for your company.

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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