New Jersey Entrepreneur Secures Financing to Buy Cold Stone Creamery Franchise

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

An entrepreneur in Marlton, New Jersey needed money to invest in a Cold Stone Creamery franchise back in 2004. Commerce Bank issued an SBA franchise loan. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COLD STONE CREAMERY
MARLTON, NJ 08053

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/15/2004

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 2 employees. The loan application indicated that the funding would help generate 2 new jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

We can help you find the best banks for small businesses in Marlton or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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