Connecticut Entrepreneur Secures Financing to Buy Cold Stone Creamery Franchise

Need money to invest in a Cold Stone Creamery franchise? Ups Capital Business Credit has a history of making these loans and they are guaranteed by the SBA.

Cold Stone Creamery franchise loans are available to Torrington, Connecticut entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Ups Capital Business Credit, based in Windsor, Connecticut, issued an SBA franchise loan for a Cold Stone Creamery franchise in 2006. We've got all the details on this Connecticut small business loan.

SBA Loan Borrower

COLD STONE CREAMERY
TORRINGTON, CT 06790

SBA Loan Lender

UPS CAPITAL BUSINESS CREDIT
425 DAY HILL RD
WINDSOR, CT 06095

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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

6/28/2006

Loan Approval Gross Amount

$326,000

Loan Approval from the SBA

Of the total $326,000 loan amount, the SBA guaranteed $244,500.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 33 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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.

Related Links:

Cold Stone Creamery, Inc.

Obtaining Funding From a Venture Capitalist

SBA Approved Banks in Windsor, Connecticut

Connecticut SBA 7A Banks