Florida Entrepreneur Secures Financing to Buy Cold Stone Creamery Franchise

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

An entrepreneur in Greenacres, Florida needed money to invest in a Cold Stone Creamery franchise back in 2004. First National Bank Of Arizona issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

COLD STONE CREAMERY INC #1536
GREENACRES, FL 33413

SBA Loan Lender

FIRST NATIONAL BANK OF ARIZONA
17600 N PERIMETER DR
SCOTTSDALE, AZ 85255

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

11/18/2004

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 3 employees. This SBA loan request indicated that the loan would help generate 32 new jobs and retain 35 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

Obtaining Funding From a Venture Capitalist

SBA Participating Banks in Scottsdale, Arizona

Getting a Business Loan in Arizona