Borrow Money to Buy a Cold Stone Creamery Franchise

Need money to invest in a Cold Stone Creamery franchise? First Community Cu 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 2006, First Community Cu issued an SBA franchise loan to an entrepreneur in Fargo, North Dakota. Because Cold Stone Creamery was registered with the SBA's registry of franchises, this North Dakota small business loan was issued on an expedited basis.

SBA Loan Borrower

COLD STONE CREAMERY
FARGO, ND 58103

SBA Loan Lender

FIRST COMMUNITY CU
149 NE 4TH ST
VALLEY CITY, ND 58072

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5461 - Retail Bakeries

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

3/17/2006

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Cold Stone Creamery franchise. At the time of the loan, the company had 22 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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:

Cold Stone Creamery, Inc.

Debt Financing

Who Lends Money to Small Businesses in Valley City, North Dakota

North Dakota SBA 7A Banks