Loan to Buy Cold Stone Creamery Franchise Issued By Asian Bank

Borrowing money to invest in a Cold Stone Creamery franchise? Asian Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Newtown Square, Pennsylvania needed money to invest in a Cold Stone Creamery franchise back in 2005. Asian Bank issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COLD STONE CREAMERY
NEWTOWN SQUARE, PA 19073

SBA Loan Lender

ASIAN BANK
111 N 9TH ST
PHILADELPHIA, PA 19107

This bank loan was underwritten by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA provides a quick answer on whether the loan qualifies.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

5/19/2005

Loan Approval Gross Amount

$262,500

Loan Approval from the SBA

Of the total $262,500 loan amount, the SBA guaranteed $196,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

Equity Financing

SBA Participating Banks in Philadelphia, Pennsylvania

Getting an SBA Loan in Pennsylvania