Loan to Buy Cold Stone Creamery Franchise Issued By Flushing Savings Bank, Fsb
Borrowing money to invest in a Cold Stone Creamery franchise? Flushing Savings Bank, Fsb has a history of making these loans and they are guaranteed by the SBA.
If you live near Mohegan Lake, New York 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 2004 by Flushing Savings Bank, Fsb. 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
MOHEGAN LAKE, NY 10547
SBA Loan Lender
FLUSHING SAVINGS BANK, FSB
33 IRVING PL
NEW YORK CITY, NY 10003
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
722211 - Limited-Service Restaurants
Loan Approval Date
8/12/2004
Loan Approval Gross Amount
$270,000
Loan Approval from the SBA
Of the total $270,000 loan amount, the SBA guaranteed $202,500.
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 only one employee. The loan application indicated that the loan would help generate 4 new jobs and retain 5 existing jobs.
Getting an SBA Loan For Your Business
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Flushing Savings Bank, Fsb had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Flushing Savings Bank, Fsb made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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 New York City, New York
New York SBA Bank Lenders