Massapequa Park, NY Entrepreneur Gets SBA Loan to Buy Cold Stone Creamery Franchise

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

Getting money to buy a Cold Stone Creamery franchise shouldn't be too tough. In 2004, Comerica Bank issued an SBA franchise loan to an entrepreneur in Massapequa Park, New York. Because Cold Stone Creamery was registered with the SBA's registry of franchises, this New York small business loan was issued on an expedited basis.

SBA Loan Borrower

COLD STONE CREAMERY
MASSAPEQUA PARK, NY 11758

SBA Loan Lender

COMERICA BANK
333 W SANTA CLARA ST
SAN JOSE, CA 95113

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

7/9/2004

Loan Approval Gross Amount

$280,000

Loan Approval from the SBA

Of the total $280,000 loan amount, the SBA guaranteed $210,000.

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 25 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

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.

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