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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Dallas, Business Loans > Comerica Bank Dallas Business Loans > Cold Stone Creamery #2142 Loan | ||||
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Grosse Pointe Park, Michigan Bank Loan
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Borrow Money to Buy a Cold Stone Creamery FranchiseNeed a loan to invest in a Cold Stone Creamery franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Grosse Pointe Park, Michigan and are interested in buying a Cold Stone Creamery franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Comerica Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower COLD STONE CREAMERY #2142 SBA Loan Lender COMERICA BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 3/4/2005 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. 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. The loan application indicated that the loan would help generate 22 new jobs and retain 25 existing jobs. Getting an SBA Loan For Your Business 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: Who Lends Money to Small Businesses in Dallas, Texas
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