Mississippi Entrepreneur Secures Financing to Buy Cold Stone Creamery Franchise

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

Getting money to buy a Cold Stone Creamery franchise is doable. In 2001, Bancorpsouth Bank issued an SBA franchise loan to an entrepreneur in Olive Branch, Mississippi. Because Cold Stone Creamery was registered with the SBA's registry of franchises, this Mississippi small business loan was issued on an expedited basis.

SBA Loan Borrower

COLD STONE CREAMERY
OLIVE BRANCH, MS 38654

SBA Loan Lender

BANCORPSOUTH BANK
8966 E GOODMAN RD
OLIVE BRANCH, MS 38654

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/24/2001

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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 4 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bancorpsouth Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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 - Getting Venture Capital

Best Banks in Olive Branch, Mississippi

Mississippi SBA 7A Lenders